Gold Settles to Nearly Two-Week High

by CoinNews.net on July 9, 2018 · 0 comments

Gold Bullion and Gold Bars

Gold futures ended Monday, July 9, at their highest price since June 26

Precious metals futures logged mostly modest gains in their start to the new trading week on Monday. Gold’s percentage win was the weakest among metals but it finished at an almost two-week high.

Gold for August delivery tacked on $3.80, or 0.3%, to settle at $1,259.60 an ounce on the Comex division of the New York Mercantile Exchange. The close is the strongest since June 26.

“Some short covering has likely ensued given certainties over the U.S.-Sino trade tensions on Friday. Still, the uptick in risk appetite into the week may be short-lived if more trade tariff threats are seen into the week ahead,” said OCBC analyst Barnabas Gan.

Gold futures traded from a low of $1,255.70 to a high of $1,266.90. They inched up 0.1% last week for their first weekly increase in four weeks.

Meanwhile, silver for September delivery rose 7 cents, or 0.4%, to settle at $16.139 an ounce. Silver futures ranged from $16.05 to $16.26. They lost 0.8% last week for their fourth consecutive weekly decline.

In other precious metals futures on Monday:

  • October platinum gained $4.90, or 0.6%, to $853.50 an ounce, trading between $846.40 and $862.10.

  • Palladium for September delivery rose $7.10, or 0.8%, to $954.70 an ounce, ranging from $947.70 to $962.80.

Last week the pair marked respective losses of 1.1% and 0.4%.

London Precious Metals Prices

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

  • Gold added $6.70, or 0.5%, to 1,262.05 an ounce.
  • Silver added 21 cents, or 1.3%, to $16.205 an ounce.

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

In LBMA results last week, gold rose 0.4% while other London metal prices fell by 0.2% for silver, 1.5% for platinum, and 0.6% for palladium.

US Mint Bullion Sales in 2018

United States Mint bullion sales were unchanged. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
Monday Last Week May June July 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 10,000 0 0 30,000
$50 American Eagle 1 Oz Gold Coin 0 6,500 18,500 21,500 6,500 94,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 1,000 1,000 18,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 18,000 4,000 0 48,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 10,000 15,000 0 125,000
$50 American Buffalo 1 Oz Gold Coin 0 5,500 16,500 6,500 5,500 59,000
$1 American Eagle 1 Oz Silver Coin 0 75,000 380,000 435,000 75,000 6,897,500
Pictured Rocks 5 Oz Silver Coin 0 0 0 0 0 30,000
Apostle Islands 5 Oz Silver Coin 0 0 0 0 0 30,000
Voyageurs 5 Oz Silver Coin 0 0 0 30,000 0 30,000

 

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