Gold Rises For Fourth Straight Session, Silver Dips

by CoinNews.net on August 22, 2018 · 0 comments

One gold bullion bar

Gold futures rose 0.3% on Wednesday, Aug. 22

Precious metals futures moved little in the mid-week trading session Wednesday. Gold drove its winning streak to four sessions in row to reach an almost two-week high.

Gold for December delivery rose $3.30, or 0.3%, to end at $1,203.30 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the best since Aug. 10.

Although gold prices "have staged a solid rebound from the $1,160 yearly low, the outlook remains tilted to the downside," MarketWatch quoted Lukman Otunuga, research analyst at FXTM. "With the dollar poised to recover on heightened U.S. rate-hike expectations and safe-haven demand, gold remains vulnerable to downside losses."

Gold futures ranged from a low of $1,199.20 to a high of $1,208.40. They climbed 0.5% on Tuesday and gained 0.9% on Monday.

Ending lower for the first time in three days, silver for September shed 1.6 cents, or 0.1%, to $14.75 an ounce. Silver futures traded between $14.67 and $14.88. They climbed 0.7% on Tuesday and edged up 0.3% on Monday.

In PGM futures on Wednesday:

  • October platinum inched up 70 cents, or 0.1%, to $793.70 an ounce, ranging from $788.40 to $801.50.

  • Palladium for September delivery gained $8.20, or 0.9%, to $918.20 an ounce, trading between $900.20 and $920.40.

London Precious Metals Prices

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

  • Gold added $5.70, or 0.5%, to 1,196.65 an ounce.
  • Silver added 2.5 cents, or 0.2%, to $14.81 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 25,000 ounces in American Silver Eagles and by a 1,500 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)
Wednesday 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 13,500 132,500
$25 American Eagle 1/2 Oz Gold Coin 0 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 25,000 690,000 885,000 1,180,000 8,887,500
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

 

Leave a Reply

avatar
  
smilegrinwinkmrgreenneutraltwistedarrowshockunamusedcooleviloopsrazzrollcryeeklolmadsadexclamationquestionideahmmbegwhewchucklesillyenvyshutmouth
  Subscribe  
Notify of