Gold futures rebounded from a six-week low to start the new trading week on Monday, and they settled higher for the first time in four sessions.
Gold for June delivery gained $12.30, or 1.1%, to close at $1,186.80 an ounce on the Comex division of the New York Mercantile Exchange.
"Recent U.S. economic data has been worse than expected and suggests a moderating growth rate," MarketWatch quoted Mark O’Byrne, a director at GoldCore in Dublin. "This has led to increased doubt as to when the Fed will finally lift interest rates from zero, which is supporting gold."
The yellow metal traded from a low of $1,176.60 to a high of $1,192.10. Gold prices dipped 50 cents last week, closing on Friday at their lowest level since March 19.
Silver for July delivery tacked on 31 cents, or 1.9%, to finish at $16.44 an ounce. Silver prices ranged from $16.13 to $16.76. They surged last week by 3.2%.
In other precious metals futures:
July platinum added $21.20, or 1.9%, to $1,150.90 an ounce, trading between $1,128.30 and $1,154.30.
- Palladium for June delivery moved up $8.90, or 1.2%, to $782.65 an ounce, ranging from $772.10 to $784.
Last week, platinum gained 0.7% and palladium rose 0.5%.
London Precious Metals Prices
London markets closed Monday for May Day holiday. London precious metals prices on Friday ended with:
- Gold at $1,175.95 an ounce,
- Silver at $16.17 an ounce,
- Platinum at $1,127 an ounce, and
- Palladium at $772 an ounce.
Last week, silver gained 2.1% while other London metals logged declines of 0.6% for gold, 0.1% for platinum and 0.3% for palladium.
US Mint Bullion Coin Sales in May
United States Mint bullion products jumped on the sales boards for the first time this month with gold coins gaining 3,500 ounces and silver coins advancing 459,000. In the latter, American Silver Eagles topped the 15 million mark for the year and five ounce Kisatchie silver coins climbed 6,400 in their first day return from a sales suspension.
The table below offers a listing of U.S. Mint bullion products shows the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Monday Sales||Last Week||April Sales||May Sales||YTD Sales|
|$50 American Eagle 1 Oz Gold Coins||1,000||11,500||23,500||1,000||123,500|
|$25 American Eagle 1/2 Oz Gold Coins||0||1,000||4,000||0||29,000|
|$10 American Eagle 1/4 Oz Gold Coins||2,000||0||4,000||2,000||50,000|
|$5 American Eagle 1/10 Oz Gold Coins||10,000||5,000||30,000||10,000||275,000|
|$50 American Buffalo 1 Oz Gold Coins||1,000||2,000||10,000||1,000||67,000|
|$1 American Eagle 1 Oz Silver Coins||427,000||678,000||2,851,500||427,000||15,349,500|
|2015 Homestead 5 Oz Silver Coins*||–||35,000|
|2015 Kisatchie 5 Oz Silver Coins||6,400||500||30,000||6,400||36,400|