Gold Ends at 1-Week High, Silver Climbs 1.1%

by CoinNews.net on May 23, 2019 · 0 comments

Gold Bullion Overshadowing Other Bars

Gold futures rose 0.9% on Thursday, may 23

Precious metals divided Thursday. Gold and silver gained while platinum and palladium declined. Gold’s close was its best in a week.

Gold for June delivery tacked on $11.20, or 0.9%, to settle at $1,285.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since last Thursday, May 16.

"Slumping world stock markets and crude oil prices today have put a safe-haven bid into the gold and silver markets," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

Gold futures ranged from a low of $1,272.10 to a high of $1,287.10. They added less than 0.1% on Wednesday, declined 0.3% on Tuesday — closing at their lowest price since May 2, and rose 0.1% on Monday.

Silver for July delivery gained 16.4 cents, or 1.1%, to settle at $14.613 an ounce. Silver futures traded between $14.40 and $14.64. They added 0.3% on Wednesday, lost 0.2% on Tuesday and gained 0.4% on Monday.

In other precious metals prices Thursday:

  • July platinum fell $5.80, or 0.7%, to $799.50 an ounce, ranging from $796.60 to $805.10.

  • Palladium for June delivery declined $5.70, or 0.4%, to $1,307.80 an ounce, trading between $1,301 and $1,318.10.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:

  • Gold rose $9.85, or 0.8%, to $1,283.65 an ounce.
  • Silver added 4.5 cents, or 0.3%, to $14.48 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint 2019 Bullion Sales

United States Mint bullion sales were unchanged. Below is a sales breakdown of U.S. Mint 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)
Thursday Last Week This Week March April May 2019 Sales
$100 American Eagle 1 Oz Platinum Coin* N/A 4,000 6,500 N/A 40,000
$50 American Eagle 1 Oz Gold Coin 0 1,000 1,500 8,500 6,500 2,500 73,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 1,000 0 19,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 4,000 2,000 0 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 5,000 15,000 25,000 5,000 140,000
$50 American Buffalo 1 Oz Gold Coin 0 1,000 2,000 5,500 6,500 3,000 44,500
$1 American Eagle 1 Oz Silver Coin 0 0 566,000 850,000 1,196,000 726,000 8,847,000
Lowell 5 Oz Silver Coin* N/A 80,000 N/A 80,000
American Memorial Park 5 Oz Silver Coin 0 N/A 78,000 N/A 78,000 78,000

 

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