Gold, Platinum and Palladium Decline Wed., June 17

by CoinNews.net on June 17, 2020 · 1 comment

Gold Bullion

Gold prices slipped 0.05% on Wednesday, June 17

Precious metals futures changed little Wednesday. Silver climbed while and gold, platinum and palladium declined.

Gold for August delivery shed 90 cents, or 0.05%, to settle at $1,735.60 an ounce on the Comex division of the New York Mercantile Exchange.

"Technically, August gold futures bulls still have the firm overall near-term technical advantage but trading has returned to a choppy and sideways pattern at higher levels. Longer term, such action could be storing energy for another leg up in prices in the coming weeks or months," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

Gold futures ranged from a low of $1,717.30 to a high of $1,739.30. They rose 0.5% on Tuesday and they fell 0.6% on Monday.

Silver for July delivery added 12.3 cents, or 0.7%, to settle at $17.775 an ounce. Silver futures traded between $17.51 and $17.82. They gained 1.5% on Tuesday and they declined 0.5% on Monday.

In PGM futures on Wednesday:

  • July platinum declined $5.70, or 0.7%, to $838.20 an ounce, ranging from $825.70 to $845.60.

  • Palladium for September delivery fell $17.20, or 0.9%, to $1,925.50 an ounce, trading between $1,898.30 and $1,948.20.

London Precious Metals Prices (LBMA)

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

  • Gold added $4.50, or 0.3%, to $1,724.35 an ounce.
  • Silver rose 6 cents, or 0.3%, to $17.47 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales were unchanged Wednesday. 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)
Wednesday Last Week This Week April May June 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 25,500 8,500 105,000 5,500 36,500 321,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 1,000 0 6,000 2,000 41,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 0 12,000 2,000 54,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 0 0 0 175,000
$50 American Buffalo 1 Oz Gold Coin 0 3,500 500 28,500 2,500 4,500 123,000
$1 American Eagle 1 Oz Silver Coin 0 0 457,000 750,000 490,000 907,000 12,125,500
$1 American Eagle 1 Oz Platinum Coin 0 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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chuck

FYI,
The mint posted that bullion sales for the first four (4) 2020 ATB were 45,000 each. Still no update as to sales on the 2019 ones. Sad.