Gold, Silver Log Eighth Set of Gains in Nine Sessions; Five in a Row

by CoinNews.net on July 20, 2017 · 0 comments

Bullion gold bars and US $100s.

Precious metals futures ended mixed Thursday with gold, silver and platinum higher and palladium lower

Gold and silver futures rose again Thursday, posting their fifth straight gains and their eighth set of wins in nine sessions. They each settled at fresh three-week highs, supported be a weaker U.S. dollar.

Gold for August delivery climbed $3.50, or 0.3%, to end at $1,245.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since June 29.

"It is the dollar factor which is having an influence on the gold price," Reuters quoted ThinkMarkets chief market analyst Naeem Aslam.

Gold futures ranged from a low of $1,243.90 to a high of $1,247.20. They edged up 0.008% in the previous session, gained 0.7% on Tuesday and climbed 0.5% in their start to the week on Monday.

Silver for September delivery added 4.8 cents, or 0.3%, to finish at $16.345 an ounce. The settlement is the highest since June 30. Silver futures traded between $16.11 and $16.40. They rose 0.2% on Wednesday, moved up 1.1% on Tuesday and gained 1% on Monday.

In rounding out precious metals dealings:

  • October platinum added $9, or 1%, to $933.20 an ounce, ranging from $915.50 to $934.50.

  • Closing lower for a third day in a row, palladium for September declined $11.55, or 1.3%, to $847.60 an ounce. Prices traded between $833.55 and $857.90.

London Precious Metals Prices

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

  • Gold slipped $3.45, or 0.3%, to 1,238.70 an ounce.
  • Silver dipped 5 cents, or 0.3%, to $16.18 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint Bullion Sales in 2017

U.S. Mint bullion sales logged increases of 2,000 ounces in American Gold Eagles and 140,000 ounces in American Silver Eagles. Below is a sales breakdown of U.S. bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Thursday Last Week This Week June July YTD
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 2,000 5,500 5,000 4,000 12,000 153,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 0 0 27,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 0 4,000 52,000
$5 American Eagle 1/10 Oz Gold Coin 0 10,000 5,000 20,000 30,000 290,000
$50 American Buffalo 1 Oz Gold Coin 0 1,500 500 2,000 3,000 69,000
$1 American Eagle 1 Oz Silver Coin 140,000 970,000 725,000 986,000 2,015,000 14,248,500
2017 Effigy Mounds 5 Oz Silver Coin 0 0 0 8,800 0 35,000
2017 Frederick Douglass 5 Oz Silver Coin 0 0 0 0 0 20,000
2017 Ozark Riverways 5 Oz Silver Coin 0 0 0 20,000 0 20,000

 

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