Precious Metals Rise Monday, July 29

by CoinNews.net on July 29, 2019 · 0 comments

Gold Bullion Overshadowing Other Bars

Gold futures rose modestly Monday, July 29

Precious metals futures rose in their start to the new trading week on Monday. Gains on the day ranged from less than 0.1% for gold to 1.6% for platinum.

Gold for August delivery edged up $1.10, or 0.08%, to settle at $1,420.40 an ounce on the Comex division of the New York Mercantile Exchange.

Many investors, opined analysts, are looking ahead to the FOMC’s two-day policy meeting, starting Tuesday.

"Clearly, the gold market is going to be somewhat on hold awaiting Fed commentary on Wednesday. We know that we are getting a 25 basis-point (bps) cut. (But) on Wednesday, the question will be what to look ahead for from there," Reuters quoted David Meger, director of metals trading at High Ridge Futures.

Gold futures ranged from a low of $1,414.40 to a high of $1,424.10. They slipped 0.5% last week. As recently as a week ago Thursday, July 18, gold closed at $1,428.10 an ounce for its highest close since May 13, 2013.

Silver for September delivery tacked on 4.3 cents, or 0.3%, to settle at $16.44 an ounce. Silver futures traded between $16.36 and $16.49. They moved up 1.3% last week for their third consecutive weekly increase. Last Wednesday, they ended at $16.626 an ounce for their best close since June 14, 2018.

In other precious metals futures prices Monday:

  • October platinum advanced $14.10 to $881.90 an ounce, ranging from $868.10 to $886.10.

  • Palladium for September rose $22.80, or 1.5%, to $1,553.80 an ounce, trading between $1,515.30 and $1,560.

Last week, platinum gained 1.8% and palladium rose 1.5%.

London Precious Metals Prices

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

  • Gold declined $1.35, or 0.1%, to $1,419.05 an ounce.
  • Silver lost 5 cents, or 0.3%, to $16.39 an ounce.

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

In LBMA results last week, gold fell 1.3% and palladium lost 0.4% while silver added 0.8% and platinum rose 1.3%.

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)
Monday Last Week June July 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 500 4,500 1,000 79,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 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 0 5,000 5,000 15,000 160,000
$50 American Buffalo 1 Oz Gold Coin 0 0 3,000 500 48,000
$1 American Eagle 1 Oz Silver Coin 0 147,000 1,035,000 484,000 10,506,000
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

 

Leave a Reply

avatar
  
smilegrinwinkmrgreenneutraltwistedarrowshockunamusedcooleviloopsrazzrollcryeeklolmadsadexclamationquestionideahmmbegwhewchucklesillyenvyshutmouth
  Subscribe  
Notify of