Gold Ends at Lowest Price Since Dec. 15

Bullion Gold Bars, Three

Gold settled at its lowest level since Dec. 15

Precious metals futures ended divided on Tuesday. Gold and silver posted a second straight day of losses while platinum and palladium advanced. Gold ended at a more than six-month low.

Gold for August delivery dropped $9, or 0.7%, to finish at $1,259.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the lowest since Dec. 15.

“Despite the threat of a major world trade war on the horizon, the marketplace is not seeing keen risk aversion — at least not enough to boost the safe-haven metals,” Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. “Instead, gold and silver are following their raw commodity counterparts lower on worries of less world trade in raw commodities if a full blown trade war breaks out between the U.S. and the other major economies of the world.”

Gold futures ranged from a low of $1,256.40 to a high of $1,269.40. They dipped 0.1% on Monday.

Elsewhere, silver for July delivery declined 7.8 cents, or 0.5%, to settle at $16.25 an ounce. Silver futures traded between $16.14 and $16.35. They lost 0.8% on Monday.

In rounding out precious metals futures trading:

  • July platinum rose $2.50, or 0.3%, to $871.30 an ounce, ranging from $859.40 to $872.30.

  • Palladium for September delivery jumped $19.30, or 2.1%, to $954.70 an ounce, trading between $925.30 and $958.50.

Last week, platinum fell 1.6% and palladium tumbled 3.6%.

London Precious Metals Prices

LBMA bullion prices are available on the LBMA website with a delay of midnight.

US Mint Bullion Sales in 2018

United States Mint bullion sales were limited to American Eagle gold and silver coins. The gold pieces advanced by a combined 6,000 ounces. Silver Eagles moved up by 95,000.

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 May June 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 10,000 0 30,000
$50 American Eagle 1 Oz Gold Coin 5,500 0 18,500 16,500 82,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 17,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 18,000 4,000 48,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 5,000 10,000 15,000 125,000
$50 American Buffalo 1 Oz Gold Coin 0 1,000 16,500 6,000 53,000
$1 American Eagle 1 Oz Silver Coin 95,000 215,000 380,000 435,000 6,822,500
Pictured Rocks 5 Oz Silver Coin 0 0 0 0 30,000
Apostle Islands 5 Oz Silver Coin 0 0 0 0 30,000
Voyageurs 5 Oz Silver Coin 0 28,900 0 28,900 28,900

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