Gold Marks Fresh 1-Month Low

by CoinNews.net on August 25, 2016 · 0 comments

6 gold bars

Gold and silver futures each fell 0.4%

Precious metals futures were little changed Thursday. Gold and silver both declined 0.4%, posting their lowest settlements since one to two months ago.

Gold for December delivery shed $5.10 to settle at $1,324.60 an ounce on the Comex division of the New York Mercantile Exchange. The close is the lowest since July 26.

"Technical selling was featured, including more sell stops being triggered when near-term support levels were breached," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note. "There was also some nervous long liquidation, ahead of an important Fed meeting that began today."

Federal Reserve Chair Janet Yellen is set to give a highly anticipated speech on Friday at the annual economic policy symposium in Jackson Hole, Wyoming.

Gold futures traded from a low of $1,321 to a high of $1,330.20. They dropped 1.2% on Wednesday.

Silver for September delivery turned down 6.7 cents to end at $18.489 an ounce. The settlement is the lowest since June 29. Silver futures ranged from $18.44 to $18.62. In the previous session, they declined 1.9%.

Rounding out the precious metals futures complex:

  • October platinum dropped $5.20, or 0.5%, to $1,077 an ounce, trading between $1,075.30 and $1,088.40.

  • Palladium for September delivery tacked on $2.50, or 0.4%, to $685 an ounce, ranging from $679.50 to $689.50.

London Precious Metals Prices

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

  • Gold declined $5.95, or 0.5%, to $1,321.30 an ounce.
  • Silver fell 34 cents, or 1.8%, to $18.50 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

U.S. Mint bullion sales were unchanged as of 3:28 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 Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Thursday Sales Last Week This Week July Sales Aug Sales 2016 Sales
$100 American Eagle 1 Oz Platinum Coins 0 0 0 19,000 0 19,000
$50 American Eagle 1 Oz Gold Coins 0 5,000 6,000 30,000 37,500 473,500
$25 American Eagle 1/2 Oz Gold Coins 0 1,000 1,000 2,000 3,000 51,000
$10 American Eagle 1/4 Oz Gold Coins 0 2,000 2,000 10,000 4,000 100,000
$5 American Eagle 1/10 Oz Gold Coins 0 5,000 15,000 50,000 50,000 605,000
$50 American Buffalo 1 Oz Gold Coins 0 1,500 2,500 10,000 7,500 130,000
$1 American Eagle 1 Oz Silver Coins 0 255,000 430,000 1,370,000 1,010,000 28,630,500
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 0 400 500 0 900 35,100

 

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