Silver Scores 2-Year High, Gold Logs Almost 1-Month High

by CoinNews.net on August 1, 2016 · 2 comments

Silver bars closeup

Silver futures closed at their highest level since July 30, 2014

Precious metals futures kicked off the new trading week and month on Monday with gains ranging from 0.2% for gold to 1.1% for platinum. Silver rallied to a two-year high while gold ended at an almost one-month high.

Gold for December delivery rose $2.10 to settle at $1,359.60 an ounce on the Comex division of the New York Mercantile Exchange. The close is the highest since July 7 when the yellow metal ended at $1,362.10 an ounce.

"Gold needs to break through $1,380 to race higher, but silver is moving 5+ % when gold is moving 1.4%," MarketWatch quoted Julian Phillips, founder and contributor to GoldForecaster.com.

Gold futures traded from a low of $1,353.20 to a high of $1,361.90. They climbed 2.6% last week, gaining 2.8% in July.

Silver for September delivery tacked on 15.3 cents, or 0.8%, to close at $20.50 an ounce. The settlement is the highest since July 30, 2014 when prices ended at $20.60 an ounce. Silver futures ranged from $20.33 to $20.70. They advanced 3.3% last week and logged a monthly increase of 9.3%. With their gains on Monday, they are 48.5% higher on the year to date.

In other precious metals dealings on Monday:

  • October platinum settled up $12.70 to $1,163.30 an ounce, trading between $1,149.70 and $1,168.

  • Palladium for September delivery tacked on $6.50, or 0.9%, to $716.25 an ounce, ranging from $706 to $724.55.

London Precious Metals Prices

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

  • Gold added $7.65, or 0.6%, to $1,349.65 an ounce.
  • Silver jumped 52 cents, or 2.6%, to $20.51 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 Monday, following weaker levels in July. 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. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Monday / August Sales Last Week June Sales July Sales 2016 Sales
$100 American Eagle 1 Oz Platinum Coins 0 19,000 N/A 19,000 19,000
$50 American Eagle 1 Oz Gold Coins 0 7,500 62,500 30,000 436,000
$25 American Eagle 1/2 Oz Gold Coins 0 0 3,000 2,000 48,000
$10 American Eagle 1/4 Oz Gold Coins 0 2,000 10,000 10,000 96,000
$5 American Eagle 1/10 Oz Gold Coins 0 25,000 70,000 50,000 555,000
$50 American Buffalo 1 Oz Gold Coins 0 2,000 14,500 10,000 122,500
$1 American Eagle 1 Oz Silver Coins 0 175,000 2,837,500 1,370,000 27,620,500
2016 Shawnee 5 Oz Silver Coins* 0 0 0 0 105,000
2016 Cumberland Gap 5 Oz Silver Coins* 0 0 0 0 75,000
2016 Harpers Ferry 5 Oz Silver Coins 0 0 34,200 0 34,200

 

{ 2 comments… read them below or add one }

Seth Riesling August 1, 2016 at 5:50 pm

The Mint’s 13 worldwide bullion coin Authorized Purchasers didn’t order any Harpers Ferry 5-ounce silver ATB bullion coins for the past 1.5 months, even though the Mint sent them a reminder that they are still available & a new one will not be issued till August 29. The 34,200 coins they purchased in the first 2 weeks of June must have met demand of collectors & investors.

-NumisDudeTX

Seth Riesling August 1, 2016 at 6:54 pm

FYI CoinNews readers-

The US Mint sent an email today at 10:05am CT which gives the following TBD new products updates:

Sept. 8 2016-W gold Standing Liberty quarter Uncirculated coin.

Sept. 16 2016-W ASE Proof 30th anniversary edge lettered coin.

-NumisDudeTX

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