Gold Marks Another More Than 6-Month Low

Small Gold Bullion Bars

In precious metals futures Thursday, June 28, losses ranged from 0.4% for gold to 1.4% for palladium

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

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