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Gold Bullion Market Update - June 2017

Gold bullion market update

The gold price started the month on 1st June 2017 at £980.76 per troy ounce, dipping below that price again a couple of times throughout the rest of the month and ending June on £957.41 on the 30th at 16:17.

Prices were seemingly unaffected following the terror attack in London on 3rd June, with gold reaching an almost 7-week high just 3 days later.

That high saw the gold price peak at £1,003.37 on 6th June after a steady climb from its lowest price in May of £943.98. The last time gold priced so well was on 18th April 2017, when it stood at £1,003.46 following a fall from the highest price of the year to date - £1,025.91 on 13th April.

Gold hit a 5-week low towards the end of the month, however, recording £977.65 on 26th June following a huge sell order that was, according to Reuters, a mistake. "Clearly somebody sold it by mistake and bought it back quickly, triggering stops below $1,250," said MKS trader Bernard Sin.

Investors looking to buy gold bullion should not be deterred, however. Sin told the news agency: "Fundamentally, there is still a lot of uncertainty in the world, with Italian bank bailouts, Trump's policies and Brexit. The world is in geopolitical chaos and gold is still good insurance."

Gold bullion coin news

With Canada celebrating its 150th birthday on 1st July, the Royal Canadian Mint released specially designed 2017-dated circulation coins as lasting keepsakes of this milestone year.

The two-dollar Canada 150 coin is the world’s first bimetallic coin and the first circulation coin to feature glow-in-the-dark technology.

The Gold Bullion Co. stock investment gold bullion coins from the Royal Canadian Mint, including those with the historic 2017 mint mark that carry a special appeal to collectors.

The iconic South African Krugerrand coin also has a birthday to look forward to in July. First produced on 3rd July 1967, it turns 50 this year and Krugerrands carrying the 2017 mint mark are also available from The Gold Bullion Co. 

Article Last Updated: Friday, June 30, 2017