Gold Edges Up From Two-Week Low

by CoinNews.net on May 20, 2019 · 0 comments

One gold bullion bar and graph

Gold futures rose 0.1% on Monday, May 20

Precious metals futures ended mixed Monday with gold, silver and palladium climbing and platinum falling.

Gold for June delivery added $1.60, or 0.1%, to settle at $1,277.30 an ounce on the Comex division of the New York Mercantile Exchange.

"The bulls are trying to ‘right the ship’ following the strong selling pressure seen late last week. Working in the precious metals bulls’ favor to start the trading week are a slightly lower U.S. dollar index and weaker U.S. stock index prices," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

Gold futures ranged from a low of $1,273.30 and $1,278.70. They lost 0.9% last week, ending Friday at their lowest point since May 2.

Silver for July delivery tacked on 5.7 cents, or 0.4%, to close at $14.445 an ounce. Silver futures traded between $14.35 and $14.46. They dropped 2.7% last week.

In other precious metals prices Monday:

  • July platinum fell $6.10, or 0.7%, to $814.20 an ounce, ranging from $811.30 to $827.40.

  • Palladium for June delivery jumped $25.20, or 1.9%, to $1,331 an ounce, trading between $1,303.90 and $1,332.90.

They fell last week with losses reaching 5.2% of platinum and 3.3% for palladium.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:

  • Gold fell $3.95, or 0.3%, to $1,276.85 an ounce.
  • Silver declined 6.5 cent, or 0.5%, to $14.415 an ounce.

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

In LBMA results last week, palladium added 0.3% while the others logged declines of 0.5% for gold, 2.1% for silver, and 4% for platinum.

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)
Monday Last 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 0 1,000 8,500 6,500 1,000 71,500
$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 25,000 0 135,000
$50 American Buffalo 1 Oz Gold Coin 0 1,000 5,500 6,500 1,000 42,500
$1 American Eagle 1 Oz Silver Coin 0 0 850,000 1,196,000 160,000 8,281,000
Lowell 5 Oz Silver Coin* N/A 80,000 N/A 80,000

 

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