Gold Falls; Silver Marks 2019 Low

silver bars stacked side by side
Silver futures ended at their lowest price since Nov. 30., 2018 may 28

Precious metals futures closed mostly lower Tuesday after an extended break from trading for the U.S. Memorial Day holiday on Monday.

Gold for June delivery fell $6.50, or 0.5%, to settle at $1,277.10 an ounce on the Comex division of the New York Mercantile Exchange. The close was the weakest since last Wednesday, May 22.

"The most important force in the market at the moment is the U.S.-China trade tensions and once again we see the dollar benefiting from safe-haven flows rather than gold," Reuters quoted Suki Cooper, precious metals analyst at Standard Chartered Bank.

Gold futures ranged from a low of $1,275.10 to a high of $1,286.90. They gained 0.6% last week.

Silver for July delivery lost 23.50 cents, or 1.6%, to settle at $14.32 an ounce. The settlement was the lowest since Nov. 30, 2018. Silver futures traded between $14.26 and $14.61. They advanced 1.2% last week for their first weekly increase in four weeks.

In other precious metals prices on Tuesday:

  • July platinum declined $5.80, or 0.7%, to $797.10 an ounce, ranging from $796.10 to $817.80.

  • Palladium for June delivery gained $13.80, or 1%, to $1,339.50 an ounce, trading between $1,318 and $1,343.40.

London Precious Metals Prices

UK markets closed Monday for a bank holiday. In comparing their levels from Friday PM to Tuesday PM:

  • Gold fell $4.20, or 0.3%, to $1,278.30 an ounce.
  • Silver declined 7 cents, or 0.5%, 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 moved up by 1,000 ounces in American Gold Eagles and by 140,000 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. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Tuesday Last 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 1,000 1,500 8,500 6,500 3,500 74,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 1,000 0 19,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 4,000 2,000 0 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 15,000 25,000 5,000 140,000
$50 American Buffalo 1 Oz Gold Coin 0 2,000 5,500 6,500 3,000 44,500
$1 American Eagle 1 Oz Silver Coin 140,000 566,000 850,000 1,196,000 866,000 8,987,000
Lowell 5 Oz Silver Coin* N/A 80,000 N/A 80,000
American Memorial Park 5 Oz Silver Coin 0 78,000 N/A 78,000 78,000


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Seth Riesling

Silver is at a 6-month low today & just 19-cents from going under $14 per ounce! When will the U.S. Mint finally lower its silver coins, silver medals & silver coin sets prices??!! They haven’t been lowered in many moons!



The simple reason is because they don’t have to. Collectors are still buying them at their hugely inflated premiums so why would they lower the price? The only reason they raise and lower prices with gold and platinum collectables is because they want to make more $$ when the spot price increases. When gold/platinum spot decreases, they are already making a $300+ premium per coin, so it doesn’t really matter anyway. American greed at its best!

Seth Riesling

Millhouse –

Well said & so true! A sad situation for sure.