Gold Logs 10-Week High on Monday, June 22

by CoinNews.net on June 22, 2020 · 0 comments

9999 gold bullion

Gold registered its best finish since April 14

Precious metals moved higher Monday. Silver marked the day with a more than two-week settlement high. Gold ended stronger, logging a ten-week high.

Gold for August delivery rose $13.40, or 0.8%, to settle at $1,766.40 an ounce on the Comex division of the New York Mercantile Exchange. The close was the highest since April 14 when gold finished at $1,768.90 an ounce for a more than seven-year high.

"While gold is undoubtedly boosted by haven flows due to the economic damage caused by the pandemic as well as concerns over a second wave, there is little doubt that the metal is also finding good support from central-bank money flooding the financial markets," MarketWatch quoted Fawad Razaqzada, market analyst at ThinkMarkets.

Gold futures ranged from a low of $1,753.50 to a high of $1,776.70. They gained 0.9% last week.

Silver for July delivery added 5.5 cents, or 0.3%, to close at $17.902 an ounce. The settlement was the highest since June 4 when silver ended at $18.061 an ounce. Silver futures traded between $17.86 and $18.19. They surged 2.1% last week.

In other precious metals futures prices on Monday:

  • July platinum settled up $16.40, or 2%, to $843.70 an ounce, ranging from $823 and $857.50.

  • Palladium for September delivery advanced $33.70, or 1.8%, to $1,942.10 an ounce, trading between $1,885.30 and $1,959.10.

In trading action last week, platinum rose 1% and palladium declined 1.6%.

London Precious Metals Prices (LBMA)

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

  • Gold gained $27.10, or 1.6%, to $1,761.85 an ounce.
  • Silver added 33.5 cents, or 1.9%, to $17.86 an ounce.

In LBMA results last week, prices for gold climbed 0.07% while they fell 0.6% for silver, 0.2% for platinum, and 2.4% for palladium.

US Mint Bullion Sales in 2020

United States Mint bullion sales were unchanged Monday. 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 10,500 105,000 5,500 38,500 323,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 6,000 2,000 41,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 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 0 500 28,500 2,500 4,500 123,000
$1 American Eagle 1 Oz Silver Coin 0 457,000 750,000 490,000 907,000 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.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments