Gold Inches Lower, Snapping Streak of Two Session Gains

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

Five gold bullion bars

Gold futures declined Thursday, Aug. 9, by less than 0.1%

Gold and silver futures traded in very narrow ranges Thursday with both logging modest settlement changes for a third straight session.

Gold for December delivery dipped $1.10, or 0.09%, to settle at $1,219.90 an ounce on the Comex division of the New York Mercantile Exchange.

"Right now, gold is in a holding pattern until you get a little bit more of data," Reuters quoted Josh Graves, senior commodities strategist at RJO Futures.

Gold futures ranged from a low of $1,218.40 to a high of $1,225.60. They added 0.2% on Wednesday, climbed less than 0.1% on Tuesday, and lost 0.5% on Monday — ending at their worst level since July 13, 2017.

Ending higher for a third straight day, silver for September settled up 3 cents, or 0.2%, to $15.462 an ounce. Silver futures traded between $15.38 and $15.53. They gained 0.4% on Wednesday, rose 0.2% on Tuesday, and dropped 0.7% on Monday — closing at their lowest point since April 7, 2016.

In other precious metals futures prices on Thursday:

  • October platinum advanced $4.60, or 0.6%, to $834.10 an ounce, ranging from $827.50 to $842.30.

  • Palladium for September delivery tacked on $12, or 1.4%, to $898.40 an ounce, trading between $885.30 and $901.

London Precious Metals Prices

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

  • Gold rose $4.80, or 0.4%, to 1,214.35 an ounce.
  • Silver added 13.5 cents, or 0.9%, to $15.48 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 grew by 5,000 ounces in $50 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 July August 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 2,000 6,000 31,500 6,500 125,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 0 18,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 0 50,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 25,000 0 150,000
$50 American Buffalo 1 Oz Gold Coin 0 6,500 9,000 24,500 9,500 87,500
$1 American Eagle 1 Oz Silver Coin 0 130,000 235,000 885,000 265,000 7,972,500
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 0 0 30,000

 

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

Leave a Reply

avatar
  
smilegrinwinkmrgreenneutraltwistedarrowshockunamusedcooleviloopsrazzrollcryeeklolmadsadexclamationquestionideahmmbegwhewchucklesillyenvyshutmouth
  Subscribe  
Notify of