Gold Dips; Silver Logs Fresh 13-Month High

by CoinNews.net on July 23, 2019 · 0 comments

Gold bullion bars

Gold futures declined 0.4% on Tuesday, July 23

Prices for precious metals futures ended mixed Tuesday as silver and platinum gained while gold and palladium declined. Silver registered a new, more than 13-month high.

Gold for August delivery lost $5.20, or 0.4%, to settle at $1,421.70 an ounce on the Comex division of the New York Mercantile Exchange.

"You’ve seen a sharp upward move over the past weeks in gold. The momentum seems to have been lost and some short-term investors have looked to take those healthy profits ahead of the U.S. Federal Reserve decision next week," Reuters quoted Capital Economics analyst Ross Strachan.

Logging a seventh increase in eight sessions, silver for September delivery rose 6.5 cents, or 0.4% to settle at $16.476 an ounce. The settlement was the highest since June 15, 2018 when prices closed at $16.48 an ounce. Silver futures traded between $16.20 and $16.58. They gained 1.3% on Monday.

In other precious metals futures Tuesday:

  • October platinum added $8.90, or 1%, to $861.60 an ounce, ranging from $847.40 to $862.90.

  • Palladium for September delivery shed $10.60, or 0.7%, to $1,518.60 an ounce, trading between $1,511.70 and $1,528.10.

London Precious Metals Prices

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

  • Gold declined $2.20, or 0.2%, to $1,425.55 an ounce.
  • Silver rose 4.5 cents, or 0.3%, to $16.43 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 advanced by a combined 1,000 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. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Tuesday / This Week Last Week June July 2019 Sales
$50 American Eagle 1 Oz Gold Coin 500 500 4,500 1,000 79,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 2,000 21,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 28,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 5,000 5,000 15,000 160,000
$50 American Buffalo 1 Oz Gold Coin 0 500 3,000 500 48,000
$1 American Eagle 1 Oz Silver Coin 0 75,000 1,035,000 337,000 10,359,000
American Memorial Park 5 Oz Silver Coin 0 0 0 0 78,000
Lowell 5 Oz Silver Coin* N/A 80,000
$100 American Eagle 1 Oz Platinum Coin* N/A 40,000

 

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