Precious Metals Rise Monday, Aug. 20

by CoinNews.net on August 20, 2018 · 0 comments

Bullion Gold Bars, Three

Gains in precious metals futures on Monday, Aug. 20, ranged from 0.3% for silver to 2.4% for palladium

Precious metals futures advanced Monday as a group. Gains in gold and silver were more modest compared to the over 2% increases in platinum and palladium.

Gold for December delivery tacked on $10.40, or 0.9%, to settle at $1,194.60 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold’s overdue a relief rally after last week’s sell off," Adrian Ash, head of research at BullionVault, told MarketWatch. "Bargain-hunting by long-term allocators is also playing a part," he said.

Gold futures ranged from a low of $1,189.60 to a high of $1,196.90. They dropped 2.9% last week, marking their biggest weekly decline in more than a year. On Thursday, gold settled at $1,184 an ounce — its worst level since Jan. 6, 2017.

Meanwhile, silver for September rose 3.9 cents, or 0.3%, to settle at $14.67 an ounce. Silver futures traded between $14.62 and $14.83. They sank 4.3% last week, registering a year-to-date loss of 14.7%.

In other precious metals prices on Monday:

  • October platinum surged $16.60, or 2.1%, to $793.90 an ounce, ranging from $786.10 to $797.90.

  • Palladium for September delivery jumped $20.90, or 2.4%, to $898.70 an ounce, trading between $886.30 and $903.50.

Last week, platinum tumbled 6.3% and platinum fell 2.6%.

London Precious Metals Prices

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

  • Gold rose $5.95, or 0.5%, to 1,184.35 an ounce.
  • Silver added 9.5 cents, or 0.7%, to $14.755 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

In LBMA results last week, prices declined 3% for gold, 4.7% for silver, 5.9% for platinum, and 1.8% for palladium.

US Mint Bullion Sales in 2018

United States Mint bullion sales were unchanged. 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)
Monday 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 4,000 31,500 10,500 129,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 1,000 1,000 19,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 2,000 2,000 52,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 25,000 5,000 155,000
$50 American Buffalo 1 Oz Gold Coin 0 8,500 24,500 18,000 96,000
$1 American Eagle 1 Oz Silver Coin 0 690,000 885,000 955,000 8,662,500
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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