Gold, Silver and Palladium Decline Monday, June 15

by CoinNews.net on June 15, 2020 · 0 comments

Gold bullion and nuggets

Gold prices fell 0.6% on Monday, June 15

Gold, silver and palladium prices finished lower Monday while platinum gained. The metals’ overall changes from Friday were moderate.

Gold for August delivery fell $10.10, or 0.6%, to settle at $1,727.20 an ounce on the Comex division of the New York Mercantile Exchange.

"In a risk-off mood, the dollar becomes a favorable asset and that’s pressuring gold," Reuters quoted David Meger, director of metals trading at High Ridge Futures. "But since the U.S. Federal Reserve meeting, we have been crawling down because the gold market did not get more monetary stimulus from the Fed; no additional rate cuts or asset purchases."

Gold futures ranged from a low of $1,707.10 to a high of $1,743.80. They advanced 3.2% last week.

Silver for July delivery declined 8.3 cents, or 0.5%, to settle at $17.399 an ounce. Silver futures traded between $17.03 and $17.63. They gained less than a half cent last week.

In other precious metals futures prices on Monday:

  • July platinum rose $2.70, or 0.3%, to $821.70 an ounce, ranging from $792.40 to $829.70.

  • Palladium for September delivery shed $5.40, or 0.3%, to $1,933.10 an ounce, trading between $1,889.50 and $1,947.70.

In trading action last week, platinum fell 1.4% and palladium declined 0.7%.

London Precious Metals Prices (LBMA)

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

  • Gold dropped $23.05, or 1.3%, to $1,710.45 an ounce.
  • Silver fell 54 cents, or 3.1%, to $17.085 an ounce.

In LBMA weekly results last week, prices for platinum dipped 0.1% while they climbed 3% for gold, 0.3% for silver, and 0.5% for palladium.

US Mint Bullion Sales in 2020

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.

US Mint Bullion Sales (# of coins)
Monday Last Week April May June 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 25,500 105,000 5,500 28,000 313,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 6,000 1,000 40,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 12,000 0 52,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 0 0 175,000
$50 American Buffalo 1 Oz Gold Coin 0 3,500 28,500 2,500 4,000 122,500
$1 American Eagle 1 Oz Silver Coin 0 0 750,000 490,000 450,000 11,668,500
$1 American Eagle 1 Oz Platinum Coin 0 0 1,500 0 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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