Gold prices on Monday climbed from an 8-month low to settle higher for the first time in six sessions.
Gold for December delivery gained $3.60, or 0.3%, to end at $1,235.10 an ounce on the Comex division of the New York Mercantile Exchange.
"There is some physical buying that’s keeping prices supported," Miguel Perez-Santalla, sales and marketing manager at Heraeus Metals New York LLC, said in a telephone interview according to Bloomberg News. "The main focus of the market is the Fed meeting, and many investors are in a wait-and-watch mode."
The Federal Open Market Committee (FOMC) is scheduled to meet on Tuesday and Wednesday.
Gold prices ranged from an intraday low of $1,226.30 to a high of $1,239.20. Gold declined last week by 2.8%, ending at the lowest price since Jan. 22.
Silver for December delivery climbed a penny for a second consecutive session. Closing at $18.62 an ounce, the white metal traded between $18.56 and $18.71. Silver prices tumbled 2.9% last week.
In other precious metals prices on Monday:
October platinum slipped $7, or 0.5%, to $1,363.50 an ounce, ranging from $1,362.30 to $1,376.50.
- Palladium for December delivery added 85 cents, or 0.1%, to $836.90 an ounce, trading between $835 and $850.65.
Last week, platinum fell 2.9% and palladium plummeted 6.2%.
London Fix Precious Metals
Earlier fixed London precious metals mostly advanced. In contrasting London bullion Fix prices and the LBMA Silver Price from Friday PM to Monday PM:
- Gold gained $2.75, or 0.2%, to $1,234.25 an ounce,
- Silver was unchanged at $18.64,
- Platinum rose $8, or 0.6%, to $1,368 an ounce, and
- Palladium added $12, or 1.4%, to $841 an ounce
London precious metals declined last week with losses of 2.7% for gold, 2.6% for silver, 3.3% for platinum and 6.5% for palladium.
US Mint Bullion Sales
United States Mint bullion sales were unchanged Monday as of 3:10 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, this month so far, and the year to date.
|American Eagle and Buffalo Bullion Sales (# of coins)|
|Monday Sales||Last Week||August Sales||September Sales||YTD Sales|
|$100 American Platinum Eagle Bullion Coins||0||100||700||200||13,800|
|$50 American Eagle Bullion Gold Coins||0||5,500||21,000||19,000||264,500|
|$25 American Eagle Bullion Gold Coins||0||1,000||0||5,000||32,000|
|$10 American Eagle Bullion Gold Coins||0||0||6,000||2,000||86,000|
|$5 American Eagle Bullion Gold Coins||0||0||25,000||10,000||420,000|
|$50 American Buffalo Bullion Gold Coins||0||1,000||8,000||4,000||129,000|
|$1 American Eagle Silver Bullion Coins||0||470,000||2,007,500||810,000||28,921,000|
|Great Smoky Mountains National Park 5 Oz Silver Bullion Coins||0||500||0||500||30,000|
|Shenandoah National Park 5 Oz Silver Bullion Coins||0||500||500||500||21,000|
|Arches National Park 5 Oz Silver Bullion Coins||0||0||1,200||0||21,200|
|Great Sand Dunes 5 Oz Silver Bullion Coins||0||2,500||7,500||2,500||10,000|