Gold Slips for Second Day, Silver Nears 4-Week High

by CoinNews.net on July 25, 2017 · 0 comments

Gold and Silver Bullion, Gold Nugget

Gold and silver futures ended mixed Tuesday

Precious metals futures were divided Tuesday. Gold fell modestly for a second day in a row after advancing for six straight sessions.

Gold for August delivery declined $2.20, or 0.2%, to settle at $1,252.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Some profit taking from the shorter-term futures traders was featured, which is not unexpected after recent price gains that saw the precious metal hit a four-week high," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

"Some upbeat U.S. economic data released at late-morning, in the form of the July consumer confidence index and the Richmond Fed business survey, lifted the U.S. dollar index from its daily low, which in turn put some downside price pressure on the gold market," Wyckoff added.

Gold futures ranged from a low of $1,248.80 to a high of $1,258. They dipped 0.05% in starting the week on Monday. On Friday, gold scored its highest close since June 23.

Elsewhere, silver for September delivery climbed 9.9 cents, or 0.6%, to finish at $16.542 an ounce. The settlement is the strongest since June 30. Silver futures traded between $16.22 and $16.61. They slipped 0.1% in the previous session.

In other precious metals prices on Tuesday:

  • October platinum shed 50 cents, or less than 0.1%, to $931.80 an ounce, ranging from $925.50 to $938.80.

  • Palladium for September gained $7.90, or 0.9%, to $856.95 an ounce, trading between $849.05 and $864.35.

London Precious Metals Prices

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

  • Gold declined $1.15, or 0.1%, to 1,254.40 an ounce.
  • Silver fell 19 cents, or 1.2%, to $16.31 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

United States Mint bullion sales were unchanged as of 3:33 p.m. ET. 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)
Tuesday 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 0 5,000 500 4,000 12,500 153,500
$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 5,000 0 20,000 30,000 290,000
$50 American Buffalo 1 Oz Gold Coin 0 500 500 2,000 3,500 69,500
$1 American Eagle 1 Oz Silver Coin 0 725,000 205,000 986,000 2,220,000 14,453,500
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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