Gold Ends Below $1,300; Silver Advances 11 Cents

by CoinNews.net on August 18, 2014 · 0 comments

Fine Gold 9999 1 Kilo

Precious metals were mixed Monday with gold and platinum lower and silver and palladium higher

Gold declined and ended below $1,300 an ounce to kick off the new trading week on Monday.

Gold for December delivery slipped $6.90, or 0.5%, to close at $1,299.30 an ounce on the Comex division of the New York Mercantile Exchange.

"There was some selling as Tokyo and China opened this morning sending gold to session lows," Reuters quoted a trader in Sydney. "I wouldn’t be surprised if gold prices edge towards the support level at the 200-day moving average of $1,285," the trader said.

Gold prices ranged from an intraday low of $1,296.50 to a high of $1,304.90. Gold retreated 0.4% last week.

Silver for September delivery advanced 11 cents, or 0.6%, to $19.64 an ounce, trading between $19.47 and $19.68. Silver prices plunged last week by 2.1%.

In PGM fugures on Monday:

  • October platinum shed $11, or 0.8%, to $1,446.20 an ounce, ranging from $1,445.70 and $1,458.40.

  • Palladium for September delivery rose 40 cents to $894.90 an ounce, trading between $892.55 and $902.75.

Last week, platinum declined 1.4% but palladium surged 4%.

London Fix Precious Metals

Earlier fixed London precious metals were mixed as well. When contrasting London bullion Fix prices and the LBMA Silver Price from Friday PM to Monday PM:

  • Gold edged up 75 cents to $1,296.75 an ounce,
  • Silver fell 27 cents, or 1.4%, to $19.59
  • Platinum rose $2, or 0.1%, to $1,448 an ounce, and
  • Palladium gained $20, or 2.3%, to $898 an ounce

US Mint Bullion Sales in August

U.S. Mint bullion sales were unchanged Monday as of 2:41 PM ET. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold last week, last month, the month so far, and the year to date.

American Eagle and Buffalo Bullion Sales (# of coins)
Monday Sales Sales Last Week July Sales August Sales YTD Sales
$100 American Platinum Eagle Bullion Coins 0 400 0 400 13,300
$50 American Eagle Bullion Gold Coins 0 3,000 26,000 13,000 237,500
$25 American Eagle Bullion Gold Coins 0 0 0 0 27,000
$10 American Eagle Bullion Gold Coins 0 0 6,000 2,000 80,000
$5 American Eagle Bullion Gold Coins 0 5,000 25,000 20,000 405,000
$50 American Buffalo Bullion Gold Coins 0 500 5,500 4,500 121,500
$1 American Eagle Silver Bullion Coins 0 225,000 1,975,000 1,180,000 27,283,500
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins 0 0 500 0 29,500
Shenandoah National Park 5 Oz Silver Bullion Coins 0 0 0 0 20,000
Arches National Park 5 Oz Silver Bullion Coins 0 0 1,500 0 20,000

 

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