Gold Ends at More Than 1-Week High on Thursday, July 5

by CoinNews.net on July 5, 2018 · 0 comments

Bullion Gold Bars, Three

Gold, silver and palladium gained on Thursday, July 5. Platinum declined slightly.

Precious metals futures ended mostly higher Thursday, one day after U.S. markets closed for Fourth of July celebrations. Gold futures rose for a second straight session, ending at a more than one-week high.

Gold for August delivery added $5.30, or 0.4%, to settle at $1,258.80 an ounce on the Comex division of the New York Mercantile Exchange. The close is the strongest since June 26.

"Gold and silver prices are modestly to slightly higher in early-afternoon U.S. trading Thursday, on mild corrective rebounds after both metals hit multi-month lows earlier this week," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

"This afternoon’s release of the minutes from the latest meeting of the Federal Open Market Committee (FOMC) did not have a significant impact on precious metals prices," Wyckoff noted.

Gold futures ranged from a low of $1,252.20 to a high of $1,262.40. They gained nearly 1% on Tuesday but lost 1% on Monday — ending at their lowest price since Dec. 12.

Meanwhile, silver for September delivery moved up 5.4 cents, or 0.3%, to settle at $16.097 an ounce. Silver futures traded between $15.97 and $16.20. They advanced 1.3% on Tuesday and tumbled 2.2% on Monday.

In other precious metals futures on Thursday:

  • October platinum declined $4.90, or 0.6%, to $841.40 an ounce, ranging from $836.70 to $850.60.

  • Palladium for September delivery rose $4.70, or 0.5%, to $942.70 an ounce, trading between $935.70 and $947.80.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:

  • Gold inched down 15 cents to 1,255.50 an ounce.
  • Silver declined 9.5 cents, or 0.6%, to $15.95 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint Bullion Sales in 2018

United States Mint bullion sales logged their fist gains of the week and month. Advances included a combined 5,800 ounces American Gold Eagles; 5,500 ounces in American Gold Buffalos; and 75,000 ounces in American Silver Eagles.

were unchanged. 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)
Thursday / Week / July 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 6,500 5,500 18,500 21,500 94,000
$25 American Eagle 1/2 Oz Gold Coin 1,000 0 0 1,000 18,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 18,000 4,000 48,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 10,000 15,000 125,000
$50 American Buffalo 1 Oz Gold Coin 5,500 0 16,500 6,500 59,000
$1 American Eagle 1 Oz Silver Coin 75,000 95,000 380,000 435,000 6,897,500
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 1,100 0 30,000 30,000

 

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