Gold Marks 70-Month High

by CoinNews.net on June 24, 2019 · 0 comments

Bullion Gold Bars, Three

Gold prices finished at a 70-month high Monday, June 24

Gold futures extended their bullish advances Monday, securing a third straight increase and another almost six-year high.

Gold for August delivery tacked on $18.10, or 1.3%, to settle at $1,418.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Aug. 28, 2013 when gold ended at $1,418.80 an ounce.

"Safe-haven demand amid heightened geopolitical events is keeping gold prices on the rise. So is a slumping U.S. dollar index that hit a three-month low today," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "And while we’re at it, let’s add to the bullish mix recent easy-leaning monetary policies of the world’s major central banks and the bullish technical chart posture for the yellow metal."

Gold futures ranged from a low of $1,403.60 to a high of $1,421. They rallied 4.1% last week.

Meanwhile, silver for July delivery rose 8.7 cents, or 0.6%, to close at $15.377 an ounce. Silver futures traded between $15.28 and $15.46. They gained 3.3% last week. On Thursday, they settled at $15.492 an ounce for their best finish since March 25. Silver prices gained 3.3% last week.

In other precious metals futures prices Monday:

  • July platinum edged up 70 cents, or nearly 0.1%, to $811.70 an ounce, ranging from $807.30 to $815.90.

  • Palladium for September delivery surged $29, or 1.9%, to $1,528.60 an ounce, trading between $1,491.40 and $1,537.50.

Last week, platinum rose 0.8% and palladium jumped 2.6%.

London Precious Metals Prices

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

  • Gold added $8.55, or 0.6%, to $1,405.70 an ounce.
  • Silver rose 8 cents, or 0.5%, to $15.37 an ounce.

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

In LBMA results last week, platinum lost 0.4% while the others registered gains totaling 3.4% for gold, 1.8% for silver, and 3.7% for platinum.

US Mint 2019 Bullion Sales

United States Mint bullion sales rose for the first time in over a week. Sales of American Silver Eagles moved up by 160,000 coins.

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 0 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 0 6,500 3,000 3,000 47,500
$1 American Eagle 1 Oz Silver Coin 160,000 0 1,196,000 866,000 710,000 9,697,000
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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