Gold Inches Lower in June Start

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Most precious metals futures closed higher Tuesday after an extended break from trading for the U.S. Memorial Day holiday on Monday. Gold was near unchanged after ending last month at a more than 20-week high.

Gold for August delivery edged down 30 cents, or 0.02%, to settle at $1,905 an ounce on the Comex division of the New York Mercantile Exchange.

"Most of the moves in the gold prices are primarily due to the weakness in the dollar index, which hasn’t gained much attraction despite the fact that we saw decent [personal consumption expenditures] numbers for the U.S. economy last Friday," MarketWatch quoted Naeem Aslam, chief market analyst at AvaTrade.

Gold futures ranged from a low of $1,894.50 to a high of $1,919.20. They advanced 1.5% last week, marking a gain in May of 7.8%, while logging their highest settlement since Jan. 7.

Silver for July delivery closed up 8.8 cents, or 0.3%, to $28.102 an ounce. Silver futures traded between $27.93 and $28.71. They rose 1.9% last week to end the month of May with an 8.3% increase.

In other precious metals futures Tuesday:

  • July platinum moved up $17.30, or 1.5%, to $1,199.70 an ounce, ranging from $1,176.70 to $1,211.

  • Palladium for September delivery rose $33.10, or 1.2%, to $2,863.20 an ounce, trading between $2,815 and $2,873.

Last week platinum gained 1.1% and palladium advanced 2%.

US Mint Bullion Sales in 2021

Published United States Mint bullion sales were unchanged Tuesday. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Tuesday / June Last Week February Sales March Sales April Sales May 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 2,000 121,000 55,500 38,500 20,500 426,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 9,000 0 0 0 31,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 20,000 0 0 56,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 55,000 0 0 150,000
$50 American Buffalo 1 Oz Gold Coin 0 13,000 16,000 33,500 11,000 44,000 166,000
$1 American Eagle 1 Oz Silver Coin 0 0 3,191,500 4,087,000 1,053,000 0 13,106,500
$100 American Eagle 1 Oz Platinum Coin 0 13,600 N/A 35,000 0 40,000 75,000
Tuskegee Airmen 5 oz Silver Coin 0 0 N/A N/A 50,000 2,900 52,900
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