Precious Metals Gain Tuesday, June 16

by CoinNews.net on June 16, 2020 · 0 comments

Gold bars

Gold futures gained 0.5% on Tuesday, June 16

Precious metals finished higher Tuesday, posting gains ranging from 0.5% for both gold and palladium to 2.7% for platinum. Silver advanced 1.5%.

Gold for August delivery rose $9.30 to settle at $1,736.50 an ounce on the Comex division of the New York Mercantile Exchange.

"The gains for the safe-haven metals come despite a rally in the U.S. stock market due in part to the U.S. Federal Reserve providing more monetary stimulus and on reports that a drug has been realized that can cut death risks of patients on ventilators by one-third," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

Gold futures ranged from a low of $1,722.30 to a high of $1,741.30.They fell 0.6% on Monday.

Silver for July delivery added 25.3 cents to settle at $17.652 an ounce. Silver futures traded between $17.46 and $17.79. They declined 0.5% on Monday.

In other precious metals futures Tuesday:

  • July platinum moved up $22.20 to $843.90 an ounce, ranging from $822.20 to $847.80.

  • Palladium for September delivery settled up $9.60 to $1,942.70 an ounce, trading between $1,927.10 and $1,973.60.

London Precious Metals Prices (LBMA)

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

  • Gold added $9.40, or 0.6%, to $1,719.85 an ounce.
  • Silver rose 32.5 cents, or 1.9%, to $17.41 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion products registered their first gains of the week with gold coins climbing 10,000 ounces and silver coins rising 457,000 ounces.

. 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 June 2020 Sales
$50 American Eagle 1 Oz Gold Coin 8,500 25,500 105,000 5,500 36,500 321,500
$25 American Eagle 1/2 Oz Gold Coin 1,000 1,000 0 6,000 2,000 41,000
$10 American Eagle 1/4 Oz Gold Coin 2,000 0 0 12,000 2,000 54,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 0 0 175,000
$50 American Buffalo 1 Oz Gold Coin 500 3,500 28,500 2,500 4,500 123,000
$1 American Eagle 1 Oz Silver Coin 457,000 0 750,000 490,000 907,000 12,125,500
$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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