Gold Logs Over 3-Month High And Fourth Straight Gain

by CoinNews.net on June 3, 2019 · 0 comments

Bullion Gold Bars, Three

Gold futures ended at their best price since Feb. 26

Gold, silver and platinum futures surged in kicking off the new trading week and month. Gold closed at a more than three-month high, notching four straight session gains.

Gold for August delivery tacked on $16.80, or 1.3%, to settle at $1,327.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Feb 26.

"There are concerns still surrounding the trade wars, whether it be surrounding the tariffs with Mexico or the tariffs with China. There is a ‘flight to safety’ buying going into metals," Reuters quoted Bob Haberkorn, senior market strategist at RJO Futures.

Gold futures ranged from a low of $1,310.90 to a high of $1,330.90. They gained 2.1% last week, and finished the month of May with a 2% increase.

Silver for July delivery advanced 17.3 cents, or 1.2%, to close at $14.74 an ounce. Silver futures traded between $14.56 and $14.79. They edged up about 0.1% last week but marked a loss of 2.8% in May.

In other precious metals futures prices Monday:

  • July platinum surged $26.70, or 3.4%, to $820.90 an ounce, ranging from $792.80 to $824.30.

  • Palladium for September delivery declined $16.50, or 1.2%, to $1,315 an ounce, trading between $1,305 and $1,345.70.

Last week, platinum declined 1.1% and palladium gained 0.4%.

London Precious Metals Prices

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

  • Gold gained $21.55, or 1.7%, to $1,317.10 an ounce.
  • Silver added 22.5 cents, or 1.6%, to $14.705 an ounce.

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

In LBMA results last week, gold rose 1% and palladium jumped 3.1% while silver fell 0.5% and platinum lost 1.1%.

US Mint 2019 Bullion Sales

United States Mint bullion sales posted gains of 1,000 ounces in American Gold Eagles; 1,000 ounces in American Gold Buffalos; and 223,500 ounces in American Silver Eagles.

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 / June Last Week April May 2019 Sales
$50 American Eagle 1 Oz Gold Coin 500 1,000 6,500 3,500 74,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 0 19,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 0 26,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 0 25,000 5,000 145,000
$50 American Buffalo 1 Oz Gold Coin 1,000 0 6,500 3,000 45,500
$1 American Eagle 1 Oz Silver Coin 223,500 140,000 1,196,000 866,000 9,210,500
American Memorial Park 5 Oz Silver Coin 0 0 N/A 78,000 78,000
Lowell 5 Oz Silver Coin* N/A N/A 80,000
$100 American Eagle 1 Oz Platinum Coin* N/A 6,500 N/A 40,000

 

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