Precious metals futures advanced together for a second session in a row Monday. Gold notched a new 6-1/2-week high while silver closed at its best price in 6 weeks.
Gold for August delivery climbed $2.50, or 0.2%, to settle at $1,282.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since April 21.
"Gold spiked higher after the soft jobs report last week and so far, is maintaining those gains this week," MarketWatch quoted Tyler Richey, co-editor of the Sevens Report. "In the near term, gold will continue to trade in lockstep with longer-dated bonds, and as long as the general uptrend in the 30 year continues, so too will the 2017 gold rally," he added.
Gold futures ranged from a low of $1,280.20 to a high of $1,286. They rose 1% last week for their fourth straight weekly gain.
Meanwhile, silver for July delivery moved up 5.6 cents, or 0.3%, to end at $17.581 an ounce. The close is the highest since April 25. Silver futures traded between $17.49 and $17.65. They advanced last week by 1.2%.
In rounding out precious metals dealings:
July platinum added $4.20, or 0.4%, to $957.60 an ounce, ranging from $950.70 and $963.50.
- Palladium for September delivery tacked on $7.80, or 0.9%, to $841.85 an ounce, trading between $833.60 and $844.70.
Last week, platinum declined 1% while palladium leapt 6%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold rose $5, or 0.4%, to $1,279.95 an ounce.
- Silver gained 33 cents, or 1.9%, to $17.52 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
Last week, the metals divided with gold and palladium higher by 0.8% and 7.3% and silver and platinum lower by 0.6% and 3%.
US Mint Bullion Sales in 2017
U.S. Mint bullion products logged their first gains of the month with gold coins advancing 1,000 ounces and silver coins rising by 325,000 ounces.
A portion of the silver sales included the third 2017-dated America the Beautiful Five Ounce Silver Bullion Coin. Emblematic of Ozark National Scenic Riverways in Missouri, its first-day sales totaled 17,200 coins or 86,000 ounces.
Also on Monday, the U.S. Mint released rolls and bags of Ozark Riverways quarters. The five ounce silver coin and quarter share designs.
Below is a sales breakdown of U.S. 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)|
|Monday / June||Last Week||May||YTD|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||20,000|
|$50 American Eagle 1 Oz Gold Coin||0||500||10,000||137,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||2,000||27,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||48,000|
|$5 American Eagle 1/10 Oz Gold Coin||5,000||0||30,000||245,000|
|$50 American Buffalo 1 Oz Gold Coin||500||500||5,000||64,500|
|$1 American Eagle 1 Oz Silver Coin||229,000||300,000||2,455,000||11,476,500|
|2017 Effigy Mounds 5 Oz Silver Coin||2,000||100||5,600||28,200|
|2017 Frederick Douglass 5 Oz Silver Coin||0||0||2,400||20,000|
|2017 Ozark Riverways 5 Oz Silver Coin||17,200||N/A||N/A/||17,200|