Gold Edges Higher, Silver Ends Unchanged

by CoinNews.net on May 15, 2019 · 0 comments

Gold bullion bars

Gold futures rose $1.50 on Wednesday, May 15

Aside from platinum, precious metals futures were little changed Wednesday. Silver actually ended unchanged.

Gold for June delivery gained $1.50, or 0.1%, to settle at $1,297.80 an ounce on the Comex division of the New York Mercantile Exchange.

"A more bullish technical posture on the charts and rising tensions in the Persian Gulf are working to support the safe-haven gold market this week," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a note.

Gold futures ranged from a low of $1,293.60 to a high of $1,301.70. They retreated 0.4% on Tuesday and gained 1.1% on Monday, ending at their highest price since April 10.

Silver for July delivery was flat at $14.812 an ounce. Silver futures traded between $14.76 and $14.87. They rose 0.2% on Tuesday and dipped less than 0.1% on Monday.

In PGM futures on Wednesday:

  • July platinum declined $11.40, or 1.3%, to $847.70 an ounce, ranging from $844 to $860.90.

  • Palladium for June delivery shed 10 cents, or less than 0.1%, to $1,332.90 an ounce, trading between $1,298 and $1,350.

London Precious Metals Prices

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

  • Gold edged up 70 cents, or less than 0.1%, to $1,299.10 an ounce.
  • Silver added 6 cent, or 0.4%, to $14.815 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 logged gains of 500 ounces in American Gold Eagles and 1,000 ounces in American Gold Buffalos.

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)
Wednesday Last Week This Week March April May 2019 Sales
$100 American Eagle 1 Oz Platinum Coin* N/A 4,000 6,500 N/A 40,000
$50 American Eagle 1 Oz Gold Coin 500 0 1,000 8,500 6,500 1,000 71,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 1,000 0 19,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 4,000 2,000 0 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 15,000 25,000** 0 135,000
$50 American Buffalo 1 Oz Gold Coin 1,000 0 1,000 5,500 6,500 1,000 42,500
$1 American Eagle 1 Oz Silver Coin 0 92,000 0 850,000 1,196,000 160,000 8,281,000
Lowell 5 Oz Silver Coin* N/A 80,000 N/A 80,000

 

**On Wednesday, the Mint adjusted 1/10 oz. Gold Eagle figures. Sales in January trimmed to 80,000 coins from 95,000 coins and those for April increased to 25,000 coins from 10,000 coins.

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