Gold Futures Dip to Near 2018 Low

by CoinNews.net on July 26, 2018 · 0 comments

Shelves of gold bullion bars

Gold futures on Thursday, July 26, slipped 0.5%

Precious metals futures moved narrowly Thursday with all but palladium sliding slightly. Gold edged down yet neared its 2018 low of $1,224 an ounce.

Gold for August delivery declined $6.10, or 0.5%, to settle at $1,225.70 an ounce on the Comex division of the New York Mercantile Exchange.

"The rise is partially to do with the news that Trump and the EU called a ceasefire on the trade war and a halt on auto tariffs," Reuters quoted Natixis precious metals analyst Bernard Dahdah.

"But gold has been dropping since April so there is a bigger story behind this fall rather than just the EU-US story at the moment."

Gold futures traded from a low of $1,224.30 to a high of $1,235.30. They rose 0.5% on Wednesday, dipped less than 0.1% on Tuesday, and declined 0.5% on Monday.

Silver for September lost 9.4 cents, or 0.6%, to close at $15.495 an ounce. Silver futures ranged from $15.45 to $15.70. They advanced 0.4% on Wednesday, gained 0.6% on Tuesday, and fell 0.8% on Monday.

In other precious metals futures prices on Thursday:

  • October platinum fell $4, or 0.5%, to $835.70 an ounce, trading between $826.20 and $847.80.

  • Palladium for September delivery added $5.30, or 0.6%, to $933.60 an ounce, ranging from $919 to $936.50.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:

  • Gold declined $3.25, or 0.3%, to 1,228.25 an ounce.
  • Silver shed 3 cents, or 0.2%, to $15.535 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 advance by 5,000 ounces in American Gold 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)
Thursday 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 5,000 11,000 6,500 21,500 30,000 117,500
$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 0 180,000 240,000 435,000 785,000 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

 

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