Gold Marks 3-Week Low, Silver Falls Below $20; US Mint Bullion Sales Rise

by CoinNews.net on July 20, 2016 · 1 comment

.9999 Fine Gold Pur Bars

Gold futures ended at their lowest level since June 28

Gold futures ended lower on Wednesday for the first time in three sessions, closing at a more than three-week low.

Gold for August delivery fell $13, or 1%, to settle at $1,319.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the lowest since June 28 when gold ended at $1,317.90 an ounce. The daily loss was attributed to increased risk appetite and a stronger U.S. dollar.

"The dollar’s strength continues to pressure most commodities, particularly gold," Bloomberg News quoted David Meger, director of metals trading at High Ridge Futures in Chicago. "Safe-haven demand has been diminishing, obviously with equity markets moving to new record highs."

Gold futures ranged from a low of $1,314.30 to a high of $1,338.80. They rose 0.2% on Tuesday and climbed 0.1% on Monday.

Silver for September delivery dropped 39.4 cents, or 2%, to settle at $19.613 an ounce. The close is the lowest since July 1 when silver ended at $19.61 an ounce. The precious metal traded between $19.44 and $20.05.

In PGM futures on Wednesday:

  • October platinum lost $7.10, or 0.7%, to $1,091.50 an ounce, ranging from $1,069.40 to $1,100.70.

  • Palladium for September delivery jumped $19.60, or 3%, to $676 an ounce, trading between $648.30 and $677.20.

London Precious Metals Prices

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

  • Gold fell $15, or 1.1%, to $1,315.90 an ounce.
  • Silver declined 20 cents, or 1%, to $19.70 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 registered increases of 3,500 ounces in American Eagle and Buffalo gold coins and 200,000 ounces in American Silver Eagles.

Demand for 2016 Silver Eagles has slowed sharply in the last several weeks but their sales are still tracking a record. Their year-to-date total of 27,445,500 coins is 12.1% higher than the amount 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)
Wednesday Sales Last Week This Week June Sales July Sales 2016 Sales
$50 American Eagle 1 Oz Gold Coins 1,500 8,000 4,500 62,500 20,000 426,000
$25 American Eagle 1/2 Oz Gold Coins 0 1,000 0 3,000 2,000 48,000
$10 American Eagle 1/4 Oz Gold Coins 2,000 0 4,000 10,000 8,000 94,000
$5 American Eagle 1/10 Oz Gold Coins 5,000 5,000 15,000 70,000 25,000 530,000
$50 American Buffalo 1 Oz Gold Coins 1,000 1,500 3,000 14,500 7,500 120,000
$1 American Eagle 1 Oz Silver Coins 200,000 445,000 500,000 2,837,500 1,195,000 27,445,500
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

 

{ 1 comment… read it below or add one }

Seth Riesling July 20, 2016 at 5:49 pm

Not a single ATB 5-oz silver bullion “puck” has been purchased in nearly 2 months by the Mint’s 13 worldwide bullion coin Authorized Purchasers. What is up with that situation?

-NumisDudeTX

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