Gold Ends at Yet Another 2018 Low

9999 Gold Bars and 22-karat American Gold Eagle Bullion Coins

Gold settled at its lowest level since Dec. 13

Precious metals futures registered losses on Wednesday that ranged from 0.3% to 1.5%. Gold and silver finished lower for a third straight day with the former logging another low for the year.

Gold for August delivery declined $3.80, or 0.3%, to end at $1,256.10 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the weakest since Dec. 13 when gold finished at $1,248.60 an ounce.

“The fact that gold has tumbled to a fresh 2018 low this morning despite global trade tensions weighing on sentiment, continues to beg the question if the precious metal has lost its safe-haven appeal,” MarketWatch quoted Lukman Otunuga, research analyst at FXTM in a Wednesday morning research note.

Gold futures ranged from a low of $1,252.20 to a high of $1,261.90. They declined 0.7% on Tuesday and dipped 0.1% on Monday.

Silver for July delivery lost 9.9 cents, or 0.6%, to settle at $16.151 an ounce. Silver futures traded between $15.94 and $16.30. They fell 0.5% on Tuesday and lost 0.8% on Monday.

In PGM futures on Wednesday:

  • October platinum declined $12.70, or 1.5%, to $862 an ounce, ranging from $856 to $872.70.

  • Palladium for September delivery fell $10.80, or 1.1%, to $943.90 an ounce, trading between $935 and $957.60.

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

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