Gold and Silver Log First Losses in Five Sessions

by CoinNews.net on August 8, 2019 · 0 comments

Gold Bullion Bars, Three

Gold futures declined Thursday, Aug. 8, by 0.7%

Gold and silver futures finished lower for the first time in five sessions, both falling Thursday from their prior-day milestone high settlements — 6.3-years for gold and nearly 14 months for silver.

Gold for December delivery declined $10.10, or 0.7%, to settle at $1,509.50 an ounce on the Comex division of the New York Mercantile Exchange.

"We got a little bit of a relief rally going on in the equities market here … so, gold futures are pulling back a little bit after an incredible run up," Reuters quoted Phillip Streible, senior commodities strategist at RJO Futures, who added the bull run in gold is not over and the market is seeing a small correction.

Gold futures ranged from a low of $1,501.60 to a high of $1,518.60. They jumped 2.4% on Wednesday — ending at their highest price since April 11, 2013, they rose 0.5% on Tuesday, and they gained 1.3% on Monday.

Silver for September delivery fell 26 cents, or 1.5%, to end at $16.936 an ounce. Silver futures traded between $16.81 and $17.223. They soared 4.6% on Wednesday — closing at their strongest level since June 14, 2018, they added 0.3% on Tuesday, and increased 0.8% on Monday.

In other precious metals futures prices Thursday:

  • October platinum dipped $3.50, or 0.4%, to $867.50 an ounce, ranging from $854.70 to $873.20.

  • Palladium for September settled up $3.20, or 0.2%, to $1,413.50 an ounce, trading between $1,405.70 and $1,429.60.

London Precious Metals Prices

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

  • Gold declined $10.30, or 0.7%, to $1,495.75 an ounce.
  • Silver added 20 cents, or 1.2%, to $17.02 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)
Thursday Last Week This Week July August 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 1,500 1,000 2,500 1,000 82,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 3,000 0 22,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 0 28,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 15,000 0 160,000
$50 American Buffalo 1 Oz Gold Coin 0 500 500 500 1,000 49,000
$1 American Eagle 1 Oz Silver Coin 0 756,000 0 1,240,000 0 11,262,000
War in the Pacific 5 Oz Silver Coin 0 65,000 0 57,000 8,000 65,000
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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