Gold Rebounds, Logging First Gain in Four Sessions

by CoinNews.net on August 14, 2018 · 0 comments

Partial Photo of Bullion Gold

Gold futures rose 0.2% Tuesday, Aug. 14, after ending Monday at a more than 1-1/2-year low

Precious metals futures rebounded Tuesday, recovering a bit from losses on Monday that brought gold, silver and platinum to settlement lows that ranged from more than one and a half years to nearly ten years.

Posting its first gain in four sessions, gold for December delivery added $1.80, or 0.2%, to finish at $1,200.70 an ounce on the Comex division of the New York Mercantile Exchange.

"An encouraging sign for the precious metals bulls is that their markets were able to sustain gains today despite a solid rally in the U.S. dollar index to a 14-month high.," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report

Gold futures ranged from a low of $1,198.90 to a high of $1,205.80. They dropped 1.7% on Monday, ending at their worst level since Jan. 30, 2017.

Meanwhile, silver for September rose 7.1 cents, or 0.5%, to settle at $15.053 an ounce. Silver futures traded between $14.97 and $15.11. They tumbled 2.1% on Monday, marking their lowest close since April 4, 2016.

In rounding out precious metals futures prices on Tuesday:

  • After ending at the lowest price since December 2008, October platinum gained $2.20, or 0.3%, to $801.70 an ounce, ranging from $795.80 to $809.

  • Palladium for September delivery tacked on $9.10, or 1%, to $890 an ounce, trading between $878 and $890.70.

London Precious Metals Prices

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

  • Gold declined $3.35, or 0.3%, to 1,197 an ounce.
  • Silver fell 15 cents, or 1%, to $15.035 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 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 0 6,000 2,000 31,500 8,500 127,500
$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 9,000 1,500 24,500 11,000 89,000
$1 American Eagle 1 Oz Silver Coin 0 235,000 225,000 885,000 490,000 8,197,500
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

 

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