Gold Rises for Second Day, Closes at Two-Week High

by CoinNews.net on May 30, 2019 · 0 comments

Several 999.9 gold bullion bars

Gold futures closed at their best price since May 15

Precious metals futures advanced Thursday with gains ranging from 0.3% for platinum to 1.6% for palladium. Gold closed at a two-week high.

Gold for August delivery added $6.10, or 0.5%, to settle at $1,292.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since May 15.

"Gold has held up a lot better than expected with the recent strength in the dollar and that’s a major feather in the cap of the gold market in the near term," Reuters quoted John Caruso, senior market strategist at RJO Futures.

Gold futures ranged from a low of $1,279.20 to a high of $1,293.90. They rose 0.3% on Wednesday and fell 0.5% in starting the trading week on Tuesday.

Silver for July delivery added 8 cents, or 0.6%, to close at $14.491 an ounce. Silver futures traded between $14.34 and $14.56. They gained 0.6% on Wednesday, and declined 1.6% on Tuesday — ending at their lowest price since Nov. 30.

In other precious metals futures prices Thursday:

  • July platinum climbed $2.40 to $794.10 an ounce, ranging from $788.30 to $798.30.

  • Palladium for September delivery advanced $21.80 to $1,365.70 an ounce, trading between $1,323.80 and $1,374.

London Precious Metals Prices

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

  • Gold declined 70 cents, or less than 0.1%, to $1,280.95 an ounce.
  • Silver added 2.5 cents, or 0.2%, to $14.40 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 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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