Precious Metals Little Changed Tuesday, July 24

by CoinNews.net on July 24, 2018 · 0 comments

Gold bullion bar and US coins

Gold eased 10 cents on Tuesday, July 24, while palladium gained 0.7% and silver and platinum each climbed 0.6%

Precious metals futures posted narrow changes Tuesday. Gold moved the least, slipping less than 0.1%.

Gold for August delivery edged down a dime to end at $1,225.60 an ounce on the Comex division of the New York Mercantile Exchange.

"Some mild short covering by the shorter-term futures traders is featured in both [gold and silver] markets today, to limit the downside," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Still, the lack of major market news events in the world at present is allowing the chart-based traders to dominate — and the technicals for both gold and silver remain firmly bearish."

Gold futures traded from a low of $1,218.10 to a high of $1,228.40. They declined 0.5% on Monday.

Silver for September gained 9.5 cents, or 0.6%, to settle at $15.52 an ounce. Silver futures ranged from $15.34 to $15.57. They fell 0.8% on Monday.

In other precious metals futures on Tuesday:

  • October platinum rose $4.60, or 0.6%, to $835.60 an ounce, trading between $829.50 and $848.60.

  • Palladium for September delivery settled up $6, or 0.7%, to $908.60 an ounce, ranging from $900.20 to $921.40.

London Precious Metals Prices

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

  • Gold rose $3.40, or 0.3%, to 1,228.35 an ounce.
  • Silver gained 2.5 cents, or 0.2%, to $15.51 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 sales rose by 50,000 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 Last Week This Week June July 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 30,000
$50 American Eagle 1 Oz Gold Coin 0 11,000 1,500 21,500 25,000 112,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 1,000 18,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 4,000 2,000 50,000
$5 American Eagle 1/10 Oz Gold Coin 0 20,000 5,000 15,000 25,000 150,000
$50 American Buffalo 1 Oz Gold Coin 0 7,500 0 6,500 18,500 72,000
$1 American Eagle 1 Oz Silver Coin 50,000 180,000 240,000 435,000 785,000 7,607,500
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

 

This article was edited to include updated U.S. Mint bullion figures.

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