Gold Prices Dip 0.1% on Monday, June 17

by CoinNews.net on June 17, 2019 · 0 comments

Shelves of gold bullion bars

Gold futures shed $1.60 on Monday, June 17

In precious metals futures Monday, all but silver declined. Gold’s loss was its first in five sessions.

Gold for August delivery declined $1.60, or 0.1%, to settle at $1,342.90 an ounce on the Comex division of the New York Mercantile Exchange.

"Markets are quieter early this week as traders and investors worldwide are awaiting the Federal Open Market Committee (FOMC) meeting that begins Tuesday morning and ends Wednesday afternoon with a statement," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note.

"Technically, August gold futures prices closed nearer the session high today on normal, corrective consolidation from recent gains. The bulls still have the firm overall near-term technical advantage," Wyckoff added.

Gold futures ranged from a low of $1,336.60 to a high of $1,347.10. They slipped 0.1% last week, for their first weekly decline in four weeks.

Silver for July delivery rose 2.6 cents, or 0.2%, to close at $14.829 an ounce. Silver futures traded between $14.75 and $14.89. They fell 1.5% last week, also for their first weekly loss in four.

In other precious metals futures prices Monday:

  • July platinum fell $10.10, or 1.3% to $794.60 an ounce, ranging from $791.20 to $805.80.

  • Palladium for September delivery lost $6, or 0.4%, to $1,455.50 an ounce, trading between $1,438.30 and $1,463.70.

Last week, platinum dipped 0.2% and palladium rallied 7.8%.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:

  • Gold declined $9.95, or 0.7%, to $1,341.30 an ounce.
  • Silver fell 24.5 cents, or 1.6%, to $14.78 an ounce.

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

In LBMA results last week, the metals logged gains of 0.8% for both gold and silver, 0.2% for platinum, and 6.7% for palladium.

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)
Monday Last Week April May June 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 3,000 6,500 3,500 3,500 77,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 0 0 19,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 0 0 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 25,000 5,000 5,000 145,000
$50 American Buffalo 1 Oz Gold Coin 0 2,000 6,500 3,000 3,000 47,500
$1 American Eagle 1 Oz Silver Coin 0 326,500 1,196,000 866,000 550,000 9,537,000
American Memorial Park 5 Oz Silver Coin 0 0 N/A 78,000 0 78,000
Lowell 5 Oz Silver Coin* N/A 80,000
$100 American Eagle 1 Oz Platinum Coin* N/A 6,500 N/A 0 40,000

 

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