Gold was little changed Monday, but moved enough to log a second straight session of gains after marking a one-month low.
Gold for December delivery rose $1.20, or less than 0.1%, to end at $1,327.10 an ounce on the Comex division of the New York Mercantile Exchange. Gold futures ranged from a low of $1,317.70 to a high of $1,328.30. They fell 1.5% last week.
"We could have had a gold rally if it wasn’t for Yellen’s speech, where she said there was a good case for a raise in interest rates," Bloomberg News quoted George Gero, a managing director at RBC Wealth Management in New York, said in a telephone interview. "It seems like everybody is on hold waiting to see what’s going to happen in September."
On Friday, Federal Reserve Chair Janet Yellen addressed the annual economic policy symposium in Jackson Hole, Wyoming.
Meanwhile, silver for September delivery added 11.4 cents, or 0.6%, to settle at $18.859 an ounce. Silver futures traded between $18.46 and $18.93. Last week, they tumbled 3.5%.
In other precious metals trading:
October platinum climbed $3.40, or 0.3%, to $1,081.10 an ounce, ranging from $1,070.40 to $1,085.30.
- Palladium for December delivery advanced $5.50, or 0.8%, to $699.25 an ounce, trading between $684.10 and $700.45.
Last week, platinum fell 3.6% and palladium dropped 2.2%.
London Precious Metals Prices
U.K. markets closed Monday for holiday. In London bullion PM prices Friday:
- Gold was $1,318.75 an ounce.
- Silver was $18.67 an ounce.
- Platinum was $1,077 an ounce.
- Palladium was $690 an ounce.
They registered losses last week that totaled 2.1% for gold; 3.8% for silver; 2.6% for platinum; and 3% for palladium.
US Mint Bullion Coin Sales in 2016
U.S. Mint bullion sales rose jumped by 12,000 ounces in gold coins — matching all of last week’s total, and by 412,500 ounces in silver coins — just 20,000 ounces shy of the amount sold last week.
The latter include sales of the new silver coin commemorating Theodore Roosevelt National Park in North Dakota, the fourth of five 2016-dated America the Beautiful Five Ounce Silver Bullion Coins. Its first-day sales reached 27,500 coins for the slowest start of the four so far, with:
- the third coin featuring Harpers Ferry National Historical Park in West Virginia debuting with sales of 33,000 (now at 36,100 coins);
- the second coin depicting Cumberland Gap National Historical in Kentucky opening at 48,000 (which sold out at 75,000 coins); and
- the first coin honoring Shawnee National Forest in Illinois beginning with 41,800 (which sold out at 105,000 coins for the highest total since the Glacier National Park coin from 2011).
Earlier Monday, the U.S. Mint also started selling rolls and bags of Theodore Roosevelt quarters.
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)|
|Monday Sales||Last Week||July Sales||Aug Sales||2016 Sales|
|$100 American Eagle 1 Oz Platinum Coins*||0||1,000||19,000||1,000||20,000|
|$50 American Eagle 1 Oz Gold Coins||9,500||6,000||30,000||47,000||483,000|
|$25 American Eagle 1/2 Oz Gold Coins||0||1,000||2,000||3,000||51,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||2,000||10,000||4,000||100,000|
|$5 American Eagle 1/10 Oz Gold Coins||10,000||15,000||50,000||60,000||615,000|
|$50 American Buffalo 1 Oz Gold Coins||1,500||2,500||10,000||9,000||131,500|
|$1 American Eagle 1 Oz Silver Coins||270,000||430,000||1,370,000||1,280,000||28,900,500|
|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||1,000||500||0||1,900||36,100|
|2016 Theodore Roosevelt 5 Oz Silver Coins||27,500||500||0||27,500||27,500|