Precious Metals Rise Monday, Aug. 27

by CoinNews.net on August 27, 2018 · 0 comments

closeup of gold bullion

Precious metals futures registered increases on Monday, Aug. 27, that ranged from 0.2% for gold to 1.9% for platinum

Precious metals futures posted gains in their start to the new trading week on Monday.

Gold for December delivery settled up $2.70, or 0.2%, to $1,216 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the best since Aug. 10.

"The precious metal advanced on the greenback as NAFTA deal optimism cancelled out some of the trade war concerns in August," MarketWatch quoted Alfonso Esparza, senior currency analyst at OANDA.

On Monday, President Trump announced a preliminary trade deal with Mexico.

Gold futures ranged from a low of $1,209.30 to a high of $1,218.80. Last week they rallied 2.5%, for their first weekly gain in three weeks.

Elsewhere, silver for September moved up 6.5 cents, or 0.4%, to settle at $14.859 an ounce. The settlement was the strongest since Aug. 14. Silver futures traded between $14.71 and $14.89. They rose 1.1% last week, for their first weekly increase in eleven weeks.

In other precious metals prices on Monday:

  • October platinum rose $14.80, or 1.9%, to $804.20 an ounce, ranging from $787.40 to $805.90.

  • Palladium for September delivery gained $13.30, or 1.4%, to $941.90 an ounce, trading between $927 and $945.40.

Last week, platinum rose 1.6% and platinum jumped 5.8%.

London Precious Metals Prices

London market closed Monday for a public holiday. In London bullion prices on Friday:

  • Gold rose $5.35, or 0.5%, to 1,197.70 an ounce.
  • Silver fell a half cent to $14.62 an ounce.
  • Platinum added $3.50, or 0.4%, to $786 an ounce.
  • Palladium rose $17, or 1.9%, to $932 an ounce.

In LBMA results last week, prices increased 1.6% for gold, 0.9% for platinum and 4.1% for palladium while those for silver slipped 0.3%.

US Mint Bullion Sales in 2018

United States Mint bullion sales increased by 2,000 ounces in American Eagle and Buffalo gold coins and by 200,000 ounces in American Silver Eagles. Initial sales for the 5-ounce Cumberland Island National Seashore bullion coin were not available at the time of this writing.

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 1,000 3,000 31,500 14,500 133,500
$25 American Eagle 1/2 Oz Gold Coin 1,000 1,000 1,000 3,000 21,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 2,000 52,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 25,000 5,000 155,000
$50 American Buffalo 1 Oz Gold Coin 500 0 24,500 18,500 96,500
$1 American Eagle 1 Oz Silver Coin 200,000 225,000 885,000 1,380,000 9,087,500
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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