Gold Ends at Lowest Price Since Dec. 15

by CoinNews.net on June 26, 2018 · 0 comments

Bullion Gold Bars, Three

Gold settled at its lowest level since Dec. 15

Precious metals futures ended divided on Tuesday. Gold and silver posted a second straight day of losses while platinum and palladium advanced. Gold ended at a more than six-month low.

Gold for August delivery dropped $9, or 0.7%, to finish at $1,259.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the lowest since Dec. 15.

"Despite the threat of a major world trade war on the horizon, the marketplace is not seeing keen risk aversion — at least not enough to boost the safe-haven metals," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Instead, gold and silver are following their raw commodity counterparts lower on worries of less world trade in raw commodities if a full blown trade war breaks out between the U.S. and the other major economies of the world."

Gold futures ranged from a low of $1,256.40 to a high of $1,269.40. They dipped 0.1% on Monday.

Elsewhere, silver for July delivery declined 7.8 cents, or 0.5%, to settle at $16.25 an ounce. Silver futures traded between $16.14 and $16.35. They lost 0.8% on Monday.

In rounding out precious metals futures trading:

  • July platinum rose $2.50, or 0.3%, to $871.30 an ounce, ranging from $859.40 to $872.30.

  • Palladium for September delivery jumped $19.30, or 2.1%, to $954.70 an ounce, trading between $925.30 and $958.50.

Last week, platinum fell 1.6% and palladium tumbled 3.6%.

London Precious Metals Prices

LBMA bullion prices are available on the LBMA website with a delay of midnight.

US Mint Bullion Sales in 2018

United States Mint bullion sales were limited to American Eagle gold and silver coins. The gold pieces advanced by a combined 6,000 ounces. Silver Eagles moved up by 95,000.

Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
Tuesday / This Week Last Week May June 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 10,000 0 30,000
$50 American Eagle 1 Oz Gold Coin 5,500 0 18,500 16,500 82,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 17,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 18,000 4,000 48,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 5,000 10,000 15,000 125,000
$50 American Buffalo 1 Oz Gold Coin 0 1,000 16,500 6,000 53,000
$1 American Eagle 1 Oz Silver Coin 95,000 215,000 380,000 435,000 6,822,500
Pictured Rocks 5 Oz Silver Coin 0 0 0 0 30,000
Apostle Islands 5 Oz Silver Coin 0 0 0 0 30,000
Voyageurs 5 Oz Silver Coin 0 28,900 0 28,900 28,900

 

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