Gold Posts First Loss in Nine Sessions

by CoinNews.net on June 10, 2019 · 0 comments

999.9 Fine Gold Bullion

Gold futures shed 1.3% on Monday, June 10

Aside from palladium, precious metals futures ended lower Monday. Gold’s daily decline was its first in nine sessions and it comes after the yellow metal scored a more than fifteen-week high settlement.

Gold for August delivery declined $16.80, or 1.3%, to settle at $1,329.30 an ounce on the Comex division of the New York Mercantile Exchange.

"Global equities are rallying across the board and we are seeing liquidation on safe haven demand," Reuters quoted Phillip Streible, senior commodities strategist at RJO Futures. "Gold futures are backing off and the dollar index is rallying and prices are burdened with the Mexico tariffs."

Gold futures ranged from a low of $1,329 to a high of $1,341.70. They advanced 2.7% last week, ending Friday at their highest price since Feb. 20.

Silver for July delivery tumbed 39.2 cents, or 2.6%, to close at $14.639 an ounce. Silver futures traded between $14.62 and $15.01. They jumped last week by 3.2%.

In other precious metals futures prices Monday:

  • July platinum slipped 90 cents, or 0.1% to $805.20 an ounce, ranging from $796.80 to $810.80.

  • Palladium for September tacked on $30.80, or 2.3%, to $1,386.80 an ounce, trading between $1,342.10 and $1,388.

Last week, platinum rose 1.5% and palladium gained 1.8%.

London Precious Metals Prices

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

  • Gold fell $12.05, or 0.9%, to $1,328.60 an ounce.
  • Silver lost 16.5 cents, or 1.1%, to $14.745 an ounce.

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

In LBMA results last week, palladium declined 1% while the others registered increases — 3.5% for gold; 3% for silver, and 1.6% for platinum.

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

 

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