Gold, Silver and Palladium Prices Rise Modestly Tuesday, May 12

by CoinNews.net on May 12, 2020 · 2 comments

One gold bullion bar and graph

Gold futures rose 0.5% on Tuesday, May 12

Precious metals futures changed modestly Tuesday, with gold, silver and palladium rising and platinum falling.

Gold for June delivery rose $8.80, or 0.5%, to settle at $1,706.80 an ounce on the Comex division of the New York Mercantile Exchange.

"It appears a safe-haven bid has returned to the precious metals amid changing marketplace notions regarding the pace of economic healing after the Covid-19 pandemic has subsided," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,693.50 to a high of $1,716.70. They lost 0.9% on Monday.

Silver for July delivery added 2.9 cents, or 0.2%, to settle at $15.709 an ounce. Silver futures traded between $15.52 and $15.88. They declined 0.6% on Monday.

In other precious metals futures prices Tuesday:

  • July platinum declined $3.90, or 0.5%, to $777.40 an ounce, ranging from $770.50 to $791.10.

  • Palladium for June delivery gained $7.30, or 0.4%, to $1,835.40 an ounce, trading between $1,814.30 and $1,887.40.

London Precious Metals Prices (LBMA)

In comparing LBMA prices from Monday PM to Tuesday PM:

  • Gold edged down 35 cents, or 0.02%, to $1,702.40 an ounce.
  • Silver rose 4 cents, or 0.3%, to $15.485 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales were unchanged Tuesday. 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)
Tuesday / This Week Last Week April May 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 2,000 105,000 2,000 281,500
$25 American Eagle 1/2 Oz Gold Coin 0 5,000 0 5,000 38,000
$10 American Eagle 1/4 Oz Gold Coin 0 10,000 0 10,000 50,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 0 175,000
$50 American Buffalo 1 Oz Gold Coin 0 0 28,500 0 116,000
$1 American Eagle 1 Oz Silver Coin 0 0 750,000 0 10,728,500
$1 American Eagle 1 Oz Platinum Coin 0 0 1,500 0 56,500

 

In terms of 5-ounce silver bullion sales for 2020, the U.S. Mint is working on getting them automated and reported. Initial U.S. Mint-provided figures have the first two 2020-dated pieces at 45,000 produced and sold per issue. These amounts are being verified.

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chuck

SAD! Into the fifth month of 2020 and they can not even update sales of the 5 oz for 2019. Watch your wallets!!

sam tweedy
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sam tweedy

Run Forrest Run !!!!