Gold Climbs for Third Session, Ends Near Another 6.3-Year High

by CoinNews.net on August 6, 2019 · 0 comments

One gold bullion bar and graph

Gold futures increased 0.5% on Tuesday, Aug. 6

Gold futures climbed for a third straight session, ending Tuesday at a fresh, nearly 6.3-year high.

Gold for December delivery rose $7.70, or 0.5%, to settle at $1,484.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since April 12, 2013 when gold ended at $1,501.40 an ounce.

"Safe-haven demand has been featured the past few sessions amid an escalating U.S.-China trade war," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note. "Bulls are in strong control and there are no early chart signals to suggest a market top is close at hand."

Gold futures ranged from a low of $1,468.20 to a high of $1,486.80. They gained 1.3% on Monday.

Silver for September delivery settled up 5.2 cents, or 0.3%, to $16.445 an ounce. Silver futures traded between $16.36 and $16.53. They increased 0.8% on Monday.

In other precious metals futures Tuesday:

  • October platinum shed $4.70, or 0.6%, to $853.20 an ounce, ranging from $847.20 to $862.70.

  • Palladium for September added $20.70, or 1.5%, to $1,437 an ounce, trading between $1,415.60 and $1,443.80.

London Precious Metals Prices

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

  • Gold was unchanged at $1,465.25 an ounce.
  • Silver added a dime, or 0.6%, to $16.385 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 rose Tuesday by 1,000 ounces in American Gold Eagles and by 500 ounces in American Gold Buffalos.

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 July August 2019 Sales
$50 American Eagle 1 Oz Gold Coin 1,000 1,500 2,500 1,000 82,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 3,000 0 22,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 0 28,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 15,000 0 160,000
$50 American Buffalo 1 Oz Gold Coin 500 500 500 1,000 49,000
$1 American Eagle 1 Oz Silver Coin 0 756,000 1,240,000 0 11,262,000
War in the Pacific 5 Oz Silver Coin 0 65,000 57,000 8,000 65,000
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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