Gold Scores 5.8-Year High, Silver Ends Near 3-Month High

by CoinNews.net on June 20, 2019 · 0 comments

Gold Bars Close-up

Gold prices finished at their best level since Sept. 3, 2013

Gold and silver futures rallied Thursday, each posting gains of 3.6%. Gold settled at its best price in more than five years while silver closed at an almost three-month high.

Gold for August delivery rallied $48.10 to finish at $1,396.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Sept. 3, 2013 when gold ended at $1,412 an ounce.

"Major central banks that are leaning easy on their monetary policies are boosting the metals and the raw commodity sector, in general," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Gold is also seeing increased safe-haven buying interest as tensions in the Persian Gulf are on the rise."

Gold futures ranged from a low of $1,361.30 to a high of $1,397.70. They edged 0.1% lower on Wednesday, gained 0.6% on Tuesday, and dipped 0.1% on Monday.

Silver for July delivery surged 53.4 cents to close at $15.492 an ounce. The close was the highest since March 25 when the precious metal finished at $15.567 an ounce. Silver futures traded between $15.12 and $15.52. They lost 0.2% on Wednesday, rose 1.1% on Tuesday, and climbed 0.2% on Monday.

In other precious metals futures prices on Thursday:

  • July platinum dipped 20 cents, or less than 0.1%, to $805.60 an ounce, ranging from $805.10 to $823.90.

  • Palladium for September delivery declined $12, or 0.8%, to $1,480.60 an ounce, trading between $1,461.60 and $1,525.10.

London Precious Metals Prices

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

  • Gold gained $35.45, or 2.6%, to $1,379.50 an ounce.
  • Silver added 38.5 cents, or 2.6%, to $15.33 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)
Thursday / This Week Last Week April May June 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 3,000 6,500 3,500 3,500 77,500
$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 0 25,000 5,000 5,000 145,000
$50 American Buffalo 1 Oz Gold Coin 0 2,000 6,500 3,000 3,000 47,500
$1 American Eagle 1 Oz Silver Coin 0 326,500 1,196,000 866,000 550,000 9,537,000
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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