Gold Marks 15-Week High With Sixth Straight Session Gain

by CoinNews.net on June 5, 2019 · 1 comment

Rows of gold bullion

Gold futures settled Wednesday, June 5, at their best price since Feb. 20

Gold futures extended their winning streak to six sessions in a row Wednesday. They also ended the day at a fifteen-week high.

Gold for August delivery tacked on $4.90, or 0.4%, to settle at $1,333.60 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the highest since Feb 20.

Fed Chair Jerome "Powell’s speech yesterday about how he is going to watch the economy for the potential of lowering the interest rate, that seemed to provide a very good bid to gold," Reuters quoted Michael Matousek, head trader at U.S. Global Investors.

"The market was pricing in two rate cuts before, now the probability of the rate cuts are increasing."

Gold futures ranged from a low of $1,329.30 to a high of $1,348.90. They edged up less than 0.1% on Tuesday and advanced 1.3% on Monday.

Silver for July delivery climbed 2.2 cents, or 0.2%, to end at $14.791 an ounce. Silver futures traded between $14.75 and $15.04. They rose 0.2% on Tuesday and gained 1.2% on Monday.

In PGM futures on Wednesday:

  • July platinum dropped $16.30, or 2%, to $802.80 an ounce, ranging from $802.10 to $833.30.

  • Palladium for September delivery fell $13.50, or 1%, to $1,327.30 an ounce, trading between $1,311.60 and $1,345.

London Precious Metals Prices

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

  • Gold added $10.80, or 0.8%, to $1,335.05 an ounce.
  • Silver rose 12 cents, or 0.8%, to $14.84 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 / 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

 

1
Leave a Reply

avatar
  
smilegrinwinkmrgreenneutraltwistedarrowshockunamusedcooleviloopsrazzrollcryeeklolmadsadexclamationquestionideahmmbegwhewchucklesillyenvyshutmouth
1 Comment threads
0 Thread replies
2 Followers
 
Most reacted comment
Hottest comment thread
1 Comment authors
Piedmont Recent comment authors
  Subscribe  
Notify of
Piedmont
Guest
Piedmont

Why no mention of US Mint raising prices on gold products ??