Gold Logs Fifth Loss in Six Sessions

by CoinNews.net on May 14, 2018 · 0 comments

closeup of gold bullion

Gold futures shed 0.2% on Monday, May 14

Gold and silver futures traded lower on Monday for a second session in a row. The loss for gold was its fifth in sixth sessions.

Gold for June delivery declined $2.50, or 0.2%, to settle at $1,318.20 an ounce on the Comex division of the New York Mercantile Exchange.

"Over the short term, and particularly during May, we see gold trading between $1,285 and $1,338 an ounce as continued strength in the dollar and rising rates pressure values lower," Reuters quoted INTL FCStone analyst Edward Meir

Gold futures traded from a low of $1,314 to a high of $1,322.4. They rose 0.5% last week for their first weekly gain in four weeks. On Thursday, they settled at $1,322.30 an ounce for their best price since April 27.

Elsewhere, silver for July delivery gave back 10.7 cents, or 0.5%, to finish at $16.645 an ounce. Silver futures ranged from $16.55 to $16.76. They climbed 1.4% last week after rising 0.7% last week.

In other precious metals futures on Monday:

  • July platinum fell $11, or 1.2%, to $914.90 an ounce, trading between $911.10 and $928.80.

  • Palladium for June delivery added $10.50, or 1.1%, to $995.70 an ounce, ranging from $983.40 to $997.40.

Last week, platinum surged 1.7% and palladium jumped 2.7%.

London Precious Metals Prices

LBMA bullion prices are available on the LBMA website with a delay of midnight.

Last week, LBMA metal prices posted gains of 1.1% for gold, 2.1% for silver, 2.8% for platinum and 4.3% for palladium.

US Mint Bullion Sales in 2018

United States Mint bullion sales registered gains of 6,200 ounces in American Platinum Eagles, 500 ounces in American Gold Eagles, and 100,000 ounces in American Silver Eagles.

Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
Monday Last Week April May 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 6,200 0 0 6,200 26,200
$50 American Eagle 1 Oz Gold Coin 500 1,500 4,000 2,000 49,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 0 16,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 0 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 5,000 5,000 105,000
$50 American Buffalo 1 Oz Gold Coin 0 4,500 2,000 4,500 35,000
$1 American Eagle 1 Oz Silver Coin 100,000 50,000 915,000 150,000 6,157,500
Pictured Rocks 5 Oz Silver Coin 0 0 0 0 30,000
Apostle Islands 5 Oz Silver Coin 0 0 30,000 0 30,000

 

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