Gold Logs First Loss in Four Sessions, Silver Logs Fifth Straight Gain

by CoinNews.net on August 14, 2017 · 0 comments

silver bars stacked side by side

Silver futures ended at their highest price since June 14

Precious metals ended mixed Monday, with gold snapping a three-session winning streak and silver gaining for a fifth session in a row to mark a 2-month high.

Gold for December delivery declined $3.60, or 0.3%, to settle at $1,290.40 an ounce on the Comex division of the New York Mercantile Exchange.

"There was no further news of verbal saber-rattling between North Korea and the U.S. over the weekend, with the result that this geopolitical risk appears to be being priced out again somewhat," MarketWatch quoted Commerzbank analysts led by Carsten Fritsch in a note Monday.

Gold futures traded from a low of $1,284.20 to a high of $1,296.40. They jumped 2.3% last week, ending Friday at their best level since June 6.

Silver for September delivery added 5.2 cents, or 0.3%, to $17.122 an ounce. The settlement was the highest since June 14 when prices ended at $17.136 an ounce. Silver futures ranged from $16.92 to $17.22. They soared 5% last week.

In other precious metals futures prices on Monday:

  • October platinum dropped $14.80, or 1.5%, to $974.90 an ounce, trading between $969 and $990.10.

  • Palladium for September delivery added $3.45, or 0.4%, to $898.15 an ounce, ranging from $892.75 to $900.95.

Last week, platinum rose 2.1% and palladium advanced 2.3%.

London Precious Metals Prices

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

  • Gold declined $3.80, or 0.3%, to 1,282.30 an ounce.
  • Silver fell 12 cents, or 0.7%, to $16.97 an ounce.

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

Last week, London bullion prices logged gains of 2.3% for both gold and silver, 1.9% for platinum and 1.6% for palladium.

US Mint Bullion Sales in 2017

United States Mint bullion sales were unchanged as of 3:13 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)
Monday Last Week July August YTD
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 0 4,500 13,500 4,500 160,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 1,000 28,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 4,000 0 52,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 30,000 0 290,000
$50 American Buffalo 1 Oz Gold Coin 0 2,000 6,000 2,000 74,000
$1 American Eagle 1 Oz Silver Coin 0 110,000 2,320,000 110,000 14,663,500
2017 Effigy Mounds 5 Oz Silver Coin 0 0 0 0 35,000
2017 Frederick Douglass 5 Oz Silver Coin 0 0 0 0 20,000
2017 Ozark Riverways 5 Oz Silver Coin 0 0 0 0 20,000

 

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