Gold Declines 0.3% As Silver Rises 1.3%

by CoinNews.net on June 25, 2020 · 0 comments

Fine Gold Bullion 999.9

Gold futures fell 0.3% on Thursday, June 25

Most precious metals declined Thursday, led by a 2.3% drop in palladium. Silver was the single winner on the day, rising 1.3%.

Gold for August delivery shed $4.50, or 0.3%, to settle at $1,770.60 an ounce on the Comex division of the New York Mercantile Exchange.

"Falls in the gold price are still being viewed by investors as buying opportunities," Commerzbank said in a note, adding, "We therefore regard the latest weakness in the gold price as temporary and envisage new highs in the near future."

Gold futures ranged from a low of $1,764.10 to a high of $1,779.60. They lost 0.4% on Wednesday, they tacked on 0.9% on Tuesday — hitting their highest settlement since Oct. 4, 2012, and they gained 0.8% on Monday.

Silver for July delivery tacked on 22.5 cents to end at $17.895 an ounce. Silver futures traded between $17.50 and $17.92. They dropped 2.2% on Wednesday, they rose 0.9% on Tuesday, for their best close since June 1, and they gained 0.3% on Monday.

In other precious metal prices Thursday:

  • July platinum dipped $1.90, or 0.2%, to $802.70 an ounce, ranging from $790.50 to $807.10.

  • Palladium for September delivery fell $43.40 to $1,845.10 an ounce, trading between $1,830.20 and $1,894.90.

London Precious Metals Prices (LBMA)

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

  • Gold declined $9.50, or 0.5%, to $1,756.55 an ounce.
  • Silver fell 32.5 cents, or 1.8%, to $17.53 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales were unchanged Thursday. 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)
Thursday Last Week This Week April May June 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 10,500 2,000 105,000 5,500 40,500 325,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 0 6,000 2,000 41,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 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 0 500 0 28,500 2,500 4,500 123,000
$1 American Eagle 1 Oz Silver Coin 0 457,000 0 750,000 490,000 907,000 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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