Gold, Silver Post 2-Week Highs

by CoinNews.net on July 28, 2016 · 0 comments

Gold bars in layers

Gold and silver futures notched two-week highs on Thursday

Precious metals futures were mixed Thursday with gold, silver and platinum posting a third day of gains while platinum declined for the first time in eight sessions. Gold and silver closed at two-week highs.

Gold for December delivery gained $6.70, or 0.5%, to settle at $1,341.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since July 13.

"A perceived dovish FOMC statement Wednesday afternoon and a lower U.S. dollar index worked to lift the precious metals markets," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a note.

"With the FOMC meeting out of the way, attention turns to the Bank of Japan meeting that began Thursday and ends Friday," Wyckoff added.

Gold futures traded from a low of $1,339.20 to a high of $1,352.60. They rose 0.5% on Wednesday and 0.1% on Tuesday.

Elsewhere, silver for September delivery added 19.7 cents, or 1%, to settle at $20.192 an ounce. The settlement is the highest since July 14. Silver futures ranged from $20.15 to $20.59. They moved up by 1.6% on Wednesday and by 0.2% on Tuesday.

In other precious metals futures trading:

  • October platinum rose $10.70, or 1%, to $1,138.90 an ounce, trading between $1,137.20 and $1,160.

  • Palladium for September delivery declined $5.25, or 0.8%, to $698.65 an ounce, ranging from $696.80 to $709.90.

London Precious Metals Prices

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

  • Gold rose $12.75, or 1%, to $1,341.75 an ounce.
  • Silver soared 83 cents, or 4.2%, to $20.41 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 were unchanged Thursday as of 3:20 p.m. ET. 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)
Thursday Sales Last Week This Week June Sales July Sales 2016 Sales
$100 American Eagle 1 Oz Platinum Coins 0 N/A 18,400 N/A 18,400 18,400
$50 American Eagle 1 Oz Gold Coins 0 7,000 3,500 62,500 26,000 432,000
$25 American Eagle 1/2 Oz Gold Coins 0 0 0 3,000 2,000 48,000
$10 American Eagle 1/4 Oz Gold Coins 0 4,000 2,000 10,000 10,000 96,000
$5 American Eagle 1/10 Oz Gold Coins 0 15,000 20,000 70,000 45,000 550,000
$50 American Buffalo 1 Oz Gold Coins 0 3,5000 1,500 14,500 9,500 122,000
$1 American Eagle 1 Oz Silver Coins 0 500,000 150,000 2,837,500 1,345,000 27,595,500
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

 

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