Gold Ends Higher For Fourth Gain In Five Sessions

by CoinNews.net on May 9, 2019 · 0 comments

Two silver bullion bars and gold nuggets

Gold prices rose 0.3% on Thursday, May 9

Gold futures ended slightly higher Thursday, logging their fourth gain in five sessions. Other precious metals closed lower on the day.

Gold for June delivery tacked on $3.80, or 0.3%, to settle at $1,285.20 an ounce on the Comex division of the New York Mercantile Exchange.

"Some mild safe-haven demand is featured amid two geopolitical developments this week. A weaker U.S. dollar index today is also working in favor of the precious metals market bulls," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a note. "However, gains in gold are limited by the specter of slower global economic growth meaning less demand for precious metals."

Gold futures ranged from a low of $1,280.40 to a high of $1,286.40. They fell 0.3% on Wednesday, gained 0.1% on Tuesday — marking a one-week high, and rose 0.2% on Monday.

Silver for July delivery lost 8.9 cents, or 0.6%, to close at $14.773 an ounce. Silver futures traded between $14.71 and $14.88. They gave back 0.4% on Wednesday, slipped one-tenth of a cent on Tuesday, and declined 0.3% on Monday.

In other precious metals futures prices:

  • July platinum dropped $13, or 1.5%, to $851.40 an ounce, ranging from $851.10 to $866.

  • Palladium for June delivery fell $23.40, or 1.8%, to $1,283 an ounce, trading between $1,256.50 and $1,317.40.

London Precious Metals Prices

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

  • Gold rose 90 cents, or less than 0.1%, to $1,281.40 an ounce.
  • Silver declined 11 cent, or 0.7%, to $14.82 an ounce.

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

US Mint 2019 Bullion Sales

United States Mint bullion sales were unchanged. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Thursday / This Week Last Week March April May 2019 Sales
$100 American Eagle 1 Oz Platinum Coin* 0 2,600 4,000 6,500 0 40,000
$50 American Eagle 1 Oz Gold Coin 0 1,000 8,500 6,500 0 70,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 1,000 0 19,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 4,000 2,000 0 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 15,000 10,000 0 145,000
$50 American Buffalo 1 Oz Gold Coin 0 1,500 5,500 6,500 0 41,500
$1 American Eagle 1 Oz Silver Coin 0 714,000 850,000 1,196,000 68,000 8,189,000
Lowell 5 Oz Silver Coin* 0 0 80,000 0 0 80,000

 

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