Gold Logs Third Straight Session Gain, Ends at 1-Week High

by CoinNews.net on August 21, 2018 · 0 comments

Three bullion gold bars

Gold futures rose 0.5% on Tuesday, Aug. 21

Precious metals futures were mostly higher Tuesday. Gold advanced for a third straight session, ending at a one-week high.

Gold for December delivery settled up $5.40, or 0.5%, to $1,200 an ounce on the Comex division of the New York Mercantile Exchange. The close is the highest since last week Tuesday, Aug. 14.

"This week the gold and silver market bears are showing signs of exhaustion, to suggest near-term market bottoms are in place," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.  

"The feature in the marketplace today was a lower U.S. dollar index in the wake of remarks from Trump to supporters criticizing the Federal Reserve for raising interest rates," Wyckoff added.

Gold futures ranged from a low of $1,194.30 to a high of $1,203.10. They gained 0.9% on Monday.

Elsewhere, silver for September added 9.6 cents, or 0.7%, to close at $14.766 an ounce. Silver futures traded between $14.70 and $14.83. They edged up 0.3% on Monday.

In other precious metals prices on Tuesday:

  • October platinum dipped 90 cents, or 0.1%, to $793 an ounce, ranging from $786.90 to $803.30.

  • Palladium for September delivery climbed $11.30, or 1.3%, to $910 an ounce, trading between $898.20 and $911.20.

London Precious Metals Prices

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

  • Gold rose $6.60, or 0.6%, to 1,190.95 an ounce.
  • Silver added 3 cents, or 0.2%, to $14.785 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 increased by 200,000 ounces in American Silver Eagles and by a combined 2,000 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)
Tuesday 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 1,500 4,000 31,500 12,000 131,000
$25 American Eagle 1/2 Oz Gold Coin 1,000 1,000 1,000 2,000 20,000
$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 200,000 690,000 885,000 1,155,000 8,862,500
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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