Gold Dips for Second Day After Reaching Near 6-Year High

by CoinNews.net on June 27, 2019 · 1 comment

Gold bullion and charts

Gold eased 0.2% Thursday, June 27

Aside from palladium, precious metals futures declined Thursday. Gold edged lower for a second straight session — two days after closing at a nearly six-year high.

Gold for August delivery lost $3.40, or 0.2%, to settle at $1,412 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold continues to soften after its euphoric surge" as many investors "grow cautiously optimistic that positive developments will come out of… the Trump and Xi meeting at the sidelines of the G-20 meeting in Osaka," MarketWatch quoted Edward Moya, senior market analyst with Oanda.

Gold futures ranged from a low of $1,401.40 to a high of $1,415.30. They shed 0.2% on Wednesday, 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 September delivery — the new, most active contract — declined 8.1 cents, or 0.5%, to settle at $15.294 an ounce. Silver futures traded between $15.23 and $15.36. They dipped less than a 0.1% on Wednesday, 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 other precious metals futures prices on Thursday:

  • October platinum fell $4.50, or 0.6%, to $817.50 an ounce, ranging from $811.70 to $821.90.

  • Palladium for September delivery tacked on $13.20, or 0.9%, to $1,538.90 an ounce, trading between $1,508.60 and $1,542.60.

London Precious Metals Prices

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

  • Gold fell $1.45, or 0.1%, to $1,402.50 an ounce.
  • Silver shed a half cent, or less than 0.1%, to $15.25 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 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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MJS,
AU will make your 1500.