Gold, Silver and Palladium Log Modest Gains Wed., May 22

by CoinNews.net on May 22, 2019 · 0 comments

Shelves of gold bullion bars

Gold futures rose 0.08% on Wednesday, May 22

Three of four major precious metals rose modestly in thin trading action Wednesday. Platinum was the outlier, dropping 1.2%. The metals were little changed in after-hour dealings following the release of the minutes from the FOMC’s last policy meeting.

Gold for June delivery rose $1, or less than 0.1%, to settle at $1,274.20 an ounce on the Comex division of the New York Mercantile Exchange.

"Today’s gold move is largely a reflection of a slight weakness in the dollar and lower equity markets supporting prices," Reuters quoted ING analyst Warren Patterson.

"(However), going forward gold movement will largely be dictated by what happens with the dollar and escalation in trade war between the United States and China."

Gold futures ranged from a low of $1,272 to a high of $1,277.10. They declined 0.3% on Tuesday — closing at their lowest price since May 2, and rose 0.1% on Monday.

Silver for July delivery climbed 3.9 cents, or 0.3%, to close at $14.449 an ounce. Silver futures traded between $14.37 and $14.48. They lost 0.2% on Tuesday and gained 0.4% on Monday.

In PGM futures on Wednesday:

  • July platinum fell $10.10 to $805.30 an ounce, ranging from $804.60 to $818.50.

  • Palladium for June delivery rose $1, or less than 0.1%, to $1,313.50 an ounce, trading between $1,291.70 and $1,323.70.

London Precious Metals Prices

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

  • Gold added $2.65, or 0.2%, to $1,273.80 an ounce.
  • Silver added a half cent to $14.435 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 increased by a combined 40,000 ounces in silver coins.

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 0 1,000 1,500 8,500 6,500 2,500 73,000
$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 5,000 15,000 25,000 5,000 140,000
$50 American Buffalo 1 Oz Gold Coin 0 1,000 2,000 5,500 6,500 3,000 44,500
$1 American Eagle 1 Oz Silver Coin 20,000 0 566,000 850,000 1,196,000 726,000 8,847,000
Lowell 5 Oz Silver Coin* N/A 80,000 N/A 80,000
American Memorial Park 5 Oz Silver Coin 4,000 N/A 78,000 N/A 78,000 78,000

 

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