Gold Falls For First Time in Five Sessions, Slipping From Near Six-Year High

by CoinNews.net on June 26, 2019 · 0 comments

Gold Changed Slightly This Week

Gold futures shed 0.2% on Wednesday, June 26

Gold futures finished lower Wednesday. The loss was a first in five sessions and comes after the yellow metal closed Tuesday at an almost six-year high.

Gold for August delivery declined $3.30, or 0.2%, to settle at $1,415.40 an ounce on the Comex division of the New York Mercantile Exchange.

"Some profit taking from the shorter-term futures traders and chart consolidation are featured after prices hit a six-year high of $1,442.90 in August futures on Tuesday," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Bulls still have the solid technical advantage."

Gold futures ranged from a low of $1,405 to a high of $1,427.90. They edged up less than 0.1% on Tuesday — posting their highest close since Aug. 28, 2013, and they gained 1.3% on Monday.

Silver for July delivery dipped about a half cent, or less than 0.1%, to settle at $15.294 an ounce. Silver futures traded between $15.16 and $15.36. They lost 0.5% on Tuesday and rose 0.6% on Monday. Last Thursday, they settled at $15.492 an ounce for their best close since March 25.

In PGM futures Wednesday:

  • October platinum — the new, most active contract, rose $7.50, or 0.9%, to $822 an ounce, ranging from $808.30 to $824.20.

  • Palladium for September delivery lost $6.80, or 0.4%, to $1,525.70 an ounce, trading between $1,512.30 and $1,535.

London Precious Metals Prices

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

  • Gold fell $27.45, or 1.9%, to $1,403.95 an ounce.
  • Silver declined 14.5 cents, or 0.9%, to $15.255 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 April May June 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 0 0 6,500 3,500 3,500 77,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 0 0 19,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 0 0 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 25,000 5,000 5,000 145,000
$50 American Buffalo 1 Oz Gold Coin 0 0 0 6,500 3,000 3,000 47,500
$1 American Eagle 1 Oz Silver Coin 0 0 305,000 1,196,000 866,000 855,000 9,842,000
American Memorial Park 5 Oz Silver Coin 0 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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