Gold Marks Another More Than 6-Month Low
Precious metals futures declined in tandem for a second straight day Thursday. Gold and silver extended their loses to four in a row, and the yellow metal ended at another fresh low for the year.
Gold for August delivery shed $5.10, or 0.4%, to settle at $1,251 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the lowest since Dec. 13 when gold finished at $1,248.60 an ounce.
“There’s just too much pressure on gold. Until we see spike in inflation or fall in the dollar, I think we’ll continue to see pressure on the price of gold,” Reuters quoted Chris Gaffney, president of world markets at TIAA Bank.
Gold futures ranged from a low of $1,249.60 to a high of $1,255.80. They lost 0.3% on Wednesday, declined 0.7% on Tuesday, and dipped 0.1% on Monday.
Silver for September delivery — the new, most active contract — slipped 19.6 cents, or 1.2%, to settle at $16.041 an ounce. Silver futures traded between $15.96 and $16.19. They declined 0.6% on Wednesday, fell 0.5% on Tuesday, and lost 0.8% on Monday.
In other precious metals futures on Thursday:
October platinum declined $6.80, or 0.8%, to $855.20 an ounce, ranging from $849.50 to $862.70.
- Palladium for September delivery fell $13, or 1.4%, to $930.90 an ounce, trading between $927.40 and $948.80.
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 unchanged. 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||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||0||28,900||1,100||0||30,000||30,000|