Gold Falls for Fourth Session, Silver Slips from Near 2-Year High

by CoinNews.net on July 12, 2016 · 2 comments

One gold bullion bar and graph

Most precious metals declined Tuesday

Gold futures fell for a fourth straight session on Tuesday, and silver dropped from an almost two-year high, as investors turned from safe-havens to equities.

Gold for August delivery declined $21.30, or 1.6%, to settle at $1,335.30 an ounce on the Comex division of the New York Mercantile Exchange.

"The markets seem to be relatively risk-on," Bloomberg News quoted Tetsu Emori, president of Emori Capital Management Inc. "In that sense, the money should be coming out from the gold market to the equity market."

Gold futures ranged from a low of $1,331 to a high of $1,358.90. They have declined $31.80, or 2.3%, since last ending higher on Wednesday when prices notched a more than 2-year high.

Falling for the first time since Thursday, silver for September delivery shed 13.3 cents, or 0.7%, to settle at $20.171 an ounce. Silver futures traded between $20.02 and $20.60. On Monday, they closed at their highest level since Aug. 1, 2014.

Rounding out metals trading:

  • October platinum declined $10.20, or 0.9%, to $1,097.90 an ounce, ranging from $1,090.70 to $1,111.90.

  • Palladium for September delivery added $3.20, or 0.5%, to $628.95 an ounce, trading between $613.25 and $631.40.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:

  • Gold declined $14.70, or 1.1%, to $1,342.40 an ounce.
  • Silver fell 12 cents, or 0.6%, to $20.35 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint Bullion Coin Sales in 2016

United States Mint bullion sales advanced on Tuesday by 2,500 in American Eagle and Buffalo gold coins and by 120,000 ounces in American Silver Eagles

On Monday, the U.S. Mint set its latest weekly allocation of American Silver Eagles to 3,649,500 coins. Bullion distributors ordered 8.1% of them through Tuesday. Although their sales have slowed in recent weeks, 2016 Silver Eagles are still tracking toward an annual record with 26,795,500 sold. The figure represents a 9.4% increase over those sold through same time in record-breaking year 2015.

Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold during varying periods of time.

US Mint Bullion Sales (# of coins)
Tuesday Sales Last Week This Week June Sales July Sales 2016 Sales
$50 American Eagle 1 Oz Gold Coins 2,000 7,500 6,000 62,500 13,500 419,500
$25 American Eagle 1/2 Oz Gold Coins 0 1,000 0 3,000 1,000 47,000
$10 American Eagle 1/4 Oz Gold Coins 0 4,000 0 10,000 4,000 90,000
$5 American Eagle 1/10 Oz Gold Coins 0 5,000 0 70,000 5,000 510,000
$50 American Buffalo 1 Oz Gold Coins 500 3,000 500 14,500 3,500 116,000
$1 American Eagle 1 Oz Silver Coins 120,000 250,000 295,000 2,837,500 545,000 26,795,500
2016 Shawnee 5 Oz Silver Coins 0 0 0 0 0 105,000
2016 Cumberland Gap 5 Oz Silver Coins 0 0 0 0 0 75,000
2016 Harpers Ferry 5 Oz Silver Coins 0 0 0 34,200 0 34,200

 

{ 2 comments… read them below or add one }

Seth Riesling July 12, 2016 at 6:29 pm

Why aren’t the 13 worldwide US Mint bullion coin APs & their customers buying any of the 5-oz silver pucks? None sold in July yet!

–NumisDudeTX

Jim July 13, 2016 at 9:22 am

Gold should hit record high by next year. This year at least $1,500.00 more or less.

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