Gold Rises 1.4% on Tuesday, July 2

by CoinNews.net on July 2, 2019 · 0 comments

Several 999.9 gold bullion bars

Gold futures closed rose nearly $19 on Tuesday, July 2

Three of four major precious metals futures advanced Tuesday, led by gold which climbed 1.4% after dropping 1.7% on Monday.

Gold for August delivery bounced $18.70 to settle at $1,408 an ounce on the Comex division of the New York Mercantile Exchange.

"There is a continuity to buying the big dips, selling the big rallies as we also continue to stay in the new higher trading range [of] $1,385-$1,450," said George Gero, managing director at RBC Wealth Management, in a daily note according to MarketWatch. "Longer term, gold is still reacting to coming inflation. Most countries worry about a global slowdown, and lower rates continue in at least 22 countries. All this means most central banks are in favor of continued easing as well."

Gold futures ranged from a low of $1,386.20 to a high of $1,410.80. Last Tuesday, they closed at $1,418.70 an ounce for their highest settlement since Aug. 28, 2013.

Silver for September delivery rose 4.5 cents, or 0.3%, to settle at $15.238 an ounce. Silver futures traded between $15.07 and $15.29. They declined 1% on Monday.

In other precious metals futures Tuesday:

  • October platinum gave back $3.70, or 0.4%, to $833.50 an ounce, ranging from $828.30 to $843.30.

  • Palladium for September delivery added $8.10, or 0.5%, to $1,552.80 an ounce, trading between $1,535 and $1,554.90.

London Precious Metals Prices

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

  • Gold edged up 95 cents, or less than 0.1%, to $1,391.05 an ounce.
  • Silver declined 9 cents, or 0.6%, to $15.17 an ounce.

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

US Mint 2019 Bullion Sales

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. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Tuesday / July Last Week April May June 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 1,000 6,500 3,500 4,500 78,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 0 0 19,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 0 0 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 25,000 5,000 5,000 145,000
$50 American Buffalo 1 Oz Gold Coin 0 0 6,500 3,000 3,000 47,500
$1 American Eagle 1 Oz Silver Coin 0 485,000 1,196,000 866,000 1,035,000 10,022,000
American Memorial Park 5 Oz Silver Coin 0 0 N/A 78,000 0 78,000
Lowell 5 Oz Silver Coin* N/A 80,000
$100 American Eagle 1 Oz Platinum Coin* N/A   6,500 N/A 0 40,000

 

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