Gold Ends at Three-Week High, Silver Gains 1.1%

Gold Bullion Bars, Three
Gold and other precious metals rose for a second day. Sales levels for US Mint bullion coins were unchanged.

Precious metals futures advanced for a second straight session. Gold led the way, closing at its highest price since May 14.

Gold for August delivery turned up $17.30, or 1.2%, to $1,415.80 an ounce on the Comex in New York. Prices hit an intraday low of $1,391.20 and touched a high of $1,423.30. Analysts cited improved safe-haven demand as stocks came under pressure with the U.S. dollar sinking against other currencies.

"We are starting to see investors being nervous about holding equities at these levels going forward, so you are going to see money flow back into the safe-haven markets," Reuters quoted Tom Power, senior commodities trader at futures brokerage R.J. O’Brien.

Silver for July delivery gained 23.5 cents, or 1.1% to $22.71 an ounce, ranging from $22.26 to $22.84.

In PGM futures:

  • July platinum rose $18.70, or 1.2%, to $1,529.30 an ounce, trading between $1,502.10 and $1,534.50.

  • Palladium for September delivery added $5.85, or 0.8%, to $762.30an ounce, ranging from $752.00 to $764.75.

London Fix Precious Metals

London precious metals were mixed for a fourth straight day. In contrasting the Wednesday PM to Thursday PM London Fix prices:

  • Gold dipped $4.00, or 0.3%, to $1,400.00 an ounce,
  • Silver jumped 25.0 cents, or 1.1%, to $22.62 an ounce,
  • Platinum rose $12.00, or 0.8%, to $1,515.00 an ounce, and
  • Palladium climbed $2.50, or 0.3%, to $756.50 an ounce

US Bullion Coin Sales in June

For a second consecutive day, sales levels were unchanged for U.S. Mint bullion coins. The following are daily, June and year-to-date bullion coin totals as provided by the United States Mint.

American Eagle and Buffalo Bullion Coin Sales
  Thursday Sales Last Week Week-To-Date / June YTD Sales
$50 American Eagle Gold Bullion Coins 0 11,500 10,000 505,500
$25 American Eagle Gold Bullion Coins 0 0 0 42,000
$10 American Eagle Gold Bullion Coins 0 2,000 0 78,000
$5 American Eagle Gold Bullion Coins 0 60,000 20,000 380,000
$50 American Buffalo Gold Bullion Coins 0 1,500 3,000 147,500
White Mountain 5 oz. Silver Bullion Coins 0 2,500 0 25,800
Perry’s Victory 5 oz. Silver Bullion Coins 0 0 8,000 8,000
American Silver Eagle Bullion Coins 0 858,500 782,000 22,550,500


Figures above are in the number of coins sold, not in ounces.

Notify of

Inline Feedbacks
View all comments