June 2013

Gold Prices Plummet for Week, US Mint Gold Bullion Coins Surge

by Bullion Prices Staff on June 21, 2013

Bullion prices dived this week as comments from Fed Chairman Ben Bernanke on Wednesday signaled the potential for scaling back quantitative easing later this year. Gold prices did inch higher Friday with futures for August delivery rising $5.80, or 0.5%, to settle at $1,292 an ounce

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Bullion prices were mixed yet again this week, but with metals ending in the opposite directions from last week. Gold and silver advanced while palladium and platinum declined. Gold prices for August delivery on Friday gained $9.80, or 0.7%, to close at $1,387.60 an ounce on the Comex division of the New York Mercantile Exchange.

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Bullion prices split this week, though all precious metals fell on Friday. In weekly percentage changes, gold prices dropped 0.7% and silver lost 2.3% while palladium added 1% and platinum gained 2.8%.

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Bullion prices were mixed in May with all but palladium lower. Demand also retreated from a month ago for US Mint bullion coins. On the final trading day in May, gold prices for August delivery lost $19, or 1.4%, to end at $1,393 an ounce on the Comex division of the New York Mercantile Exchange.

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