Gold Little Changed While Silver, Platinum and Palladium Rise

by CoinNews.net on May 21, 2018 · 0 comments

Bullion Bar and Gold Bullion Coins

Gold futures shed 40 cents on Monday, May 21

Most precious metals futures advanced in their start to the new trading week on Monday. Gold was the exception, although its loss for the day registered at less than 0.1%.

Gold for June delivery dipped 40 cents to settle at $1,290.90 an ounce on the Comex division of the New York Mercantile Exchange.

"Upbeat investor risk appetite in the world marketplace continues to work against the safe-haven metals," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily report. "Also, the U.S. dollar index continues to appreciate, to the chagrin of the precious metals market bulls."

Gold futures traded from a low of $1,281.20 to a high of $1,291.40. They declined 2.2% last week, their fourth straight weekly loss in five weeks. On Thursday, they settled at $1,289.40 an ounce for their lowest price since Dec. 26.

Silver for July delivery tacked on 6.5 cents, or 0.4%, to end at $16.52 an ounce. Silver futures ranged from $16.28 to $16.54. They dropped 1.8% last week.

In other precious metals futures on Monday:

  • July platinum gained $13.30, or 1.5%, to $899.80 an ounce, trading between $877.80 and $902.80.

  • Palladium for June delivery jumped $30.20, or 3.2%, to $990.40 an ounce, ranging from $958.40 to $991.20.

Last week, platinum tumbled 4.3% and palladium fell 2.5%.

London Precious Metals Prices

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

Last week, LBMA metal prices logged losses of 2.7% for gold, 2.2% for silver, 4.5% for platinum and 2.3% for palladium.

US Mint Bullion Sales in 2018

United States Mint bullion sales advanced by 6,000 ounces in American Eagle and Buffalo gold coins and by 230,000 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 0 10,000 0 10,000 30,000
$50 American Eagle 1 Oz Gold Coin 4,000 3,000 4,000 8,500 56,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 0 16,000
$10 American Eagle 1/4 Oz Gold Coin 0 12,000 0 12,000 38,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 0 5,000 10,000 110,000
$50 American Buffalo 1 Oz Gold Coin 1,500 5,500 2,000 11,500 42,000
$1 American Eagle 1 Oz Silver Coin 230,000 100,000 915,000 380,000 6,387,500
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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