Gold Climbs; Silver Posts Eighth Gain in Nine Sessions

by CoinNews.net on July 24, 2019 · 0 comments

Bullion Gold Bars, Three

Gold prices rose 0.1% on Wednesday, July 24

Precious metals futures rose Wednesday. Their gains ranged from 0.1% for gold to 2.3% for platinum. Silver closed at yet another fresh, more than 13-month high.

Gold for August delivery settled up $1.90 to $1,423.60 an ounce on the Comex division of the New York Mercantile Exchange.

"Technically, August gold futures prices closed near mid-range again today. The bulls have the firm overall near-term technical advantage and are keeping in place a two-month-old uptrend on the daily bar chart," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Gold bulls’ next upside near-term price breakout objective is to produce a close above solid technical resistance at the July high of $1,454.40."

Gold futures ranged from a low of $1,416.70 to a high of $1,430. They slipped 0.4% on Tuesday and inched up 0.01% on Monday. Last Thursday, they ended at $1,428.10 an ounce for their highest close since May 13, 2013.

Logging an eighth gain in nine sessions, silver for September delivery added 15 cents, or 0.9% to settle at $16.626 an ounce. The settlement was the highest since June 14, 2018 when prices closed at $17.262 an ounce. Silver futures traded between $16.35 and $16.68. They rose 0.4% on Tuesday and gained 1.3% on Monday.

In PGM futures on Wednesday:

  • October platinum advanced $19.50 to $881.10 an ounce, ranging from $858.90 to $882.40.

  • Palladium for September tacked on $19.90, or 1.3%, to $1,538.50 an ounce, trading between $1,518 and $1,540.

London Precious Metals Prices

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

  • Gold added $1.40, or 0.1%, to $1,426.95 an ounce.
  • Silver rose 10.5 cents, or 0.6%, to $16.535 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)
Wednesday Last Week This Week June July 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 500 500 4,500 1,000 79,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 0 2,000 21,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 0 2,000 28,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 5,000 5,000 15,000 160,000
$50 American Buffalo 1 Oz Gold Coin 0 500 0 3,000 500 48,000
$1 American Eagle 1 Oz Silver Coin 0 75,000 0 1,035,000 337,000 10,359,000
American Memorial Park 5 Oz Silver Coin 0 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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