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:
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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 | |
