Gold Scores Fifth Straight Session Gain

by CoinNews.net on June 4, 2019 · 0 comments

Partial Photo of Bullion Gold

Gold futures settled Tuesday, June 4, at their best price since Feb. 25

Gold futures pushed ahead Tuesday for their fifth consecutive session increase, and marked a fresh, more than three-month settlement high.

Gold for August delivery inched up 80 cents, or less than 0.1%, to settle at $1,328.70 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the highest since Feb 25.

"From a technical point of view the recovery above the psychological threshold of $1,300 represents a first positive element, while the strength shown in the last 48 hours, with the rally up to $1,330 is confirming the bullish scenario," MarketWatch quoted Carlo Alberto De Casa, chief analyst at broker ActivTrades.

"The next target could now be the resistance area of $1,350-$1,370, a level which has always stopped gold in the last 4 years," he said.

Gold futures ranged from a low of $1,324.70 to a high of $1,334.10. They advanced 1.3% on Monday.

Silver for July delivery rose 2.9 cents, or 0.2%, to end at $14.769 an ounce. Silver futures traded between $14.64 and $14.83. They gained 1.2% on Monday.

In other precious metals futures Tuesday:

  • July platinum declined $1.80, or 0.2%, to $819.10 an ounce, ranging from $816 to $825.40.

  • Palladium for September delivery surged $25.80, or 2%, to $1,340.80 an ounce, trading between $1,311.10 and $1,349.60.

London Precious Metals Prices

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

  • Gold added $7.15, or 0.5%, to $1,324.25 an ounce.
  • Silver added 1.5 cents, or 0.1%, to $14.72 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)
Tuesday Last Week This Week / June April May 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 1,000 500 6,500 3,500 74,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 0 19,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 0 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 5,000 25,000 5,000 145,000
$50 American Buffalo 1 Oz Gold Coin 0 0 1,000 6,500 3,000 45,500
$1 American Eagle 1 Oz Silver Coin 0 140,000 223,500 1,196,000 866,000 9,210,500
American Memorial Park 5 Oz Silver Coin 0 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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