Gold and Silver Register 0.3% Losses

by CoinNews.net on July 10, 2018 · 0 comments

Nine Gold Bullion Bars

Precious metals futures logged declines ranging from 0.3% for both gold and silver to 1.8% for palladium

Precious metals futures ended lower Tuesday after rising in the previous session. Gold and silver each shed 0.3%. On Monday, gold finished at an almost two-week high.

Gold for August delivery slipped $4.20 to settle at $1,255.40 an ounce on the Comex division of the New York Mercantile Exchange. The yellow metal declined as the U.S. dollar strengthened.

"If this dollar strength continues, we could see another test of $1,240, the lows from last week and mid-December, a crucial technical level," Reuters quoted Carsten Fritsch, commodity analyst at Commerzbank in Frankfurt.

Gold futures traded from a low of $1,247.70 to a high of $1,261. They rose 0.3% on Monday, marking their best close since June 26.

Meanwhile, silver for September delivery lost 5.2 cents to settle at $16.087 an ounce. Silver futures ranged from $15.92 to $16.20. They climbed 0.4% on Monday.

In other precious metals futures on Tuesday:

  • October platinum fell $7.30, or 0.9%, to $846.20 an ounce, trading between $840 and $858.60.

  • Palladium for September delivery dropped $17.10, or 1.8%, to $937.60 an ounce, ranging from $934.40 to $956.50.

London Precious Metals Prices

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

  • Gold declined $8.05, or 0.6%, to 1,254 an ounce.
  • Silver fell 27.5 cents, or 1.7%, to $15.93 an ounce.

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

US Mint Bullion Sales in 2018

United States Mint bullion products posted their first gains of the week with sales of 1,000 ounces in American Eagle and Buffalo gold coins and 240,000 ounces in American Silver Eagles.

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)
Tuesday / This Week 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 500 6,500 18,500 21,500 7,000 94,500
$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 500 5,500 16,500 6,500 6,000 59,500
$1 American Eagle 1 Oz Silver Coin 240,000 75,000 380,000 435,000 315,000 7,137,500
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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