Gold prices logged modest gains to start the new trading week on Monday, snapping a three-session losing streak and rising from a more than 11-week low.
Gold for August delivery added $5.50, or 0.5%, to close at $1,173.60 an ounce on the Comex division of the New York Mercantile Exchange.
"The dollar is weaker, and that’s certainly helping precious metals, especially gold and platinum," Bloomberg News quoted James Cordier, the founder of Optionsellers.com in Tampa, Florida.
The precious metal traded from a low of $1,168.50 to a high of $1,177.10. Gold prices fell 1.8% last week, marking a third consecutive week of losses after closing at their lowest level since March 18.
Down for a fourth session in a row, silver for July delivery shed 3 cents, or 0.2%, to settle at $15.96 an ounce. Silver prices ranged from $15.95 to $16.11. They tumbled last week by 4.3%.
In PGM futures on Monday:
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July platinum tacked on $9.20, or 0.8%, to $1,101.20 an ounce, trading between $1,094.20 and $1,103.90.
- Palladium for September delivery declined $7.20, or 1%, to $743.75 an ounce, ranging from $742 and $754.50.
Last week the metals dropped by amounts of 1.8% and 3.4%.
London Precious Metals Prices
Earlier fixed London precious metals prices also mixed it up on the day. In comparing London bullion prices from Friday PM to Monday PM:
- Gold turned up $8.20, or 0.7%, to $1,172.80 an ounce,
- Silver fell 9 cents, or 0.6%, to $16.06 an ounce,
- Platinum gained $6, or 0.5%, $1,098 an ounce, and
- Palladium declined $5, or 0.7%, to $746 an ounce.
Last week, London metals prices fell by 2.3% for gold, 3.1% for silver, 2.1% for platinum and 4.1% for palladium.
US Mint Bullion Coin Sales in June
United States Mint bullion sales advanced on Monday by 3,000 ounces in gold coins with 2,000 ounces in American Gold Eagles and the rest in American Gold Buffalos.
Demand for the agency’s bullions coins surged last week with silver sales the highest since the week after the first 2015-dated Silver Eagles launched in January and gold sales the strongest in 11 weeks.
Below is a listing of U.S. Mint bullion products that shows the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.
| US Mint Bullion Sales (# of coins) | |||||
|---|---|---|---|---|---|
| Monday | Last Week | May Sales | June Sales | YTD Sales | |
| $50 American Eagle 1 Oz Gold Coins | 2,000 | 10,500 | 13,500 | 12,500 | 148,500 |
| $25 American Eagle 1/2 Oz Gold Coins | 0 | 0 | 3,000 | 0 | 32,000 |
| $10 American Eagle 1/4 Oz Gold Coins | 0 | 0 | 10,000 | 0 | 58,000 |
| $5 American Eagle 1/10 Oz Gold Coins | 0 | 15,000 | 40,000 | 15,000 | 320,000 |
| $50 American Buffalo 1 Oz Gold Coins | 1,000 | 3,000 | 9,500 | 4,000 | 79,500 |
| $1 American Eagle 1 Oz Silver Coins | 0 | 975,000 | 2,023,500 | 975,000 | 17,921,000 |
| 2015 Homestead 5 Oz Silver Coins* | – | 35,000 | |||
| 2015 Kisatchie 5 Oz Silver Coins* | – | 12,000 | – | 42,000 | |
