On Monday, the price of silver declined in the precious metals market, while the prices of gold, platinum, and palladium increased.
Gold for August delivery climbed by $4.70, or 0.2%, to settle at $1,974.30 an ounce on the Comex division of the New York Mercantile Exchange.
“Technically, August gold futures bulls have the overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at $2,000.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at the May low of $1,949.60," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,953.80 and $1,980.40. They gained 1.3% last week, for their first weekly gain in four weeks.
Meanwhile, silver for July delivery slipped by 11.2 cents, or 0.5%, to end at $23.635 an ounce. Silver futures ranged from $23.32 to $23.79. They advanced 1.7% last week, also for their first weekly increase in four weeks.
In other precious metals prices on Monday:
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July platinum tacked on $32.90, or 3.3%, to $1,036.40 an ounce, trading between $1,006.70 and $1,043.
- Palladium for September delivery rose by $6.80, or 0.5%, to $1,410.30 an ounce, ranging from $1,391 to $1,448.50.
Last week, platinum lost 2.4% and palladium fell by 1.4%.
US Mint Bullion Sales in 2023
U.S. Mint published bullion sales have been unchanged so far this month. The table below presents a breakdown of U.S. Mint bullion products sold, with columns indicating the number of coins sold (not total ounces) during different time periods.
| US Mint Bullion Sales (# of coins) | ||||||||
|---|---|---|---|---|---|---|---|---|
| Monday / June | Last Week | February | March | April | May | 2023 Sales | ||
| $50 American Eagle 1 Oz Gold Coin | 0 | 8,000 | 41,500 | 211,000 | 159,000 | 60,500 | 590,000 | |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 18,000 | 8,000 | 1,000 | 8,000 | 18,000 | 72,000 | |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 14,000 | 12,000 | 10,000 | 12,000 | 32,000 | 146,000 | |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 80,000 | 85,000 | 10,000 | 35,000 | 80,000 | 325,000 | |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 8,500 | 19,500 | 73,000 | 61,000 | 47,000 | 259,500 | |
| $1 American Eagle 1 Oz Silver Coin | 0 | 693,000 | 900,000 | 900,000 | 900,000 | 1,593,000 | 8,242,000 | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 1,200 | N/A | 7,500 | 500 | 1,200 | 9,200 | |
