Gold Gains; Silver Bounces from 2019 Low

by CoinNews.net on May 29, 2019 · 0 comments

Small Gold Bullion Bars

Gold futures rose 0.3% Wednesday, May 29

Precious metals futures changed modestly Wednesday as platinum declined and gold, silver and palladium gained.

Gold for August delivery — the new, most-active contract — rose $3.80, or 0.3%, to settle at $1,286.30 an ounce on the Comex division of the New York Mercantile Exchange.

"U.S. and world equity markets are under selling pressure at mid-week, amid some geopolitical concerns that are prompting just a bit of safe-haven demand for gold," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note.

Gold futures ranged from a low of $1,283.80 to a high of $1,290.30. They fell 0.5% in starting the trading week on Tuesday.

Silver for July delivery finished up 9.1 cents, or 0.6%, to $14.411 an ounce. Silver futures traded between $14.32 and $14.45. They declined 1.6% on Tuesday, ending at their lowest price since Nov. 30.

In PGM futures on Wednesday:

  • July platinum shed $5.40, or 0.7%, to $791.70 an ounce, ranging from $790.80 to $800.90.

  • Palladium for September delivery gained $7.20, or 0.5%, to $1,343.90 an ounce, trading between $1,322.80 and $1,344.90.

London Precious Metals Prices

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

  • Gold roe $3.35, or 0.3%, to $1,281.65 an ounce.
  • Silver declined 10.5 cents, or 0.7%, to $14.375 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)
Wednesday Last Week This Week March April May 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 1,500 1,000 8,500 6,500 3,500 74,000
$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 5,000 0 15,000 25,000 5,000 140,000
$50 American Buffalo 1 Oz Gold Coin 0 2,000 0 5,500 6,500 3,000 44,500
$1 American Eagle 1 Oz Silver Coin 0 566,000 140,000 850,000 1,196,000 866,000 8,987,000
American Memorial Park 5 Oz Silver Coin 0 78,000 0 N/A 78,000 78,000
Lowell 5 Oz Silver Coin* N/A 80,000 N/A 80,000
$100 American Eagle 1 Oz Platinum Coin* N/A 4,000 6,500 N/A 40,000

 

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