Precious Metals Little Changed Tuesday, Aug. 7

by CoinNews.net on August 7, 2018 · 0 comments

Gold bullion and nuggets

Precious metals futures ended mixed Tuesday, Aug. 7

Precious metals futures were little changed Tuesday with gold and palladium closing less than 0.1% from their prior-day settlements. Silver climbed nearly 0.2% while platinum advanced 0.6%.

Gold for December delivery edged up 60 cents, or less than 0.1%, to settle at $1,218.30 an ounce on the Comex division of the New York Mercantile Exchange.

"I think we are in a period of seasonal weakness," MarketWatch quoted George Milling-Stanley, head of gold investment strategy at State Street Global Advisors. "Demand in second quarter has been rather soft and I think that has been reflected in the price and I think that has continued into the third quarter," he said.

Gold futures ranged from a low of $1,215.60 to a high of $1,224.30. They lost 0.5% on Monday, ending at their worst level since July 13, 2017.

Meanwhile, silver for September rose 2.5 cents to end at $15.373 an ounce. Silver futures traded between $15.30 and $15.51. They dropped 0.7% on Monday, closing at their lowest point since April 7, 2016.

In rounding out precious metals futures dealings:

  • October platinum gained $5.10 to $831.40 an ounce, ranging from $823.30 to $839.60.

  • Palladium for September delivery shed 70 cents to $902.90 an ounce, trading between $899.60 and $915.20.

London Precious Metals Prices

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

  • Gold rose $2.70, or 0.2%, to 1,212.35 an ounce.
  • Silver rose 12 cents, or 0.8%, to $15.465 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 were unchanged Tuesday. 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 July August 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 30,000
$50 American Eagle 1 Oz Gold Coin 0 2,000 31,500 500 119,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 0 18,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 0 50,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 25,000 0 150,000
$50 American Buffalo 1 Oz Gold Coin 0 6,500 24,500 500 78,500
$1 American Eagle 1 Oz Silver Coin 0 130,000 885,000 30,000 7,737,500
Pictured Rocks 5 Oz Silver Coin 0 0 0 0 30,000
Apostle Islands 5 Oz Silver Coin 0 0 0 0 30,000
Voyageurs 5 Oz Silver Coin 0 0 0 0 30,000

 

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