Gold, Silver and Palladium Rise Monday, Aug. 12

by CoinNews.net on August 12, 2019 · 1 comment

Gold Bullion, five bars

Gold futures rose 0.6% on Monday, Aug. 12

Precious metals futures, for the most part, changed little Monday. Gold and silver climbed on the day following two consecutive sessions of losses.

Gold for December delivery added $8.70, or 0.6%, to settle at $1,517.20 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is thriving in the current environment of central bank easing, risk aversion, recession risks, low inflation and even a slightly softer dollar this month. It’s already soared back above $1,500 for the first time in more than six years and it’s not yet losing momentum," MarketWatch quoted Craig Erlam, senior market analyst at Oanda, in a note.

Gold futures ranged from a low of $1,498.60 to a high of $1,519.90. They gained 3.5% last week. On Wednesday, they ended at $1,519.60 an ounce for their highest settlement since April 11, 2013.

Silver for September delivery tacked on 14 cents, or 0.8%, to finish at $17.071 an ounce. Silver futures traded between $16.80 and $17.08. They jumped last week by 4.1%. On Wednesday, they settled at $17.196 an ounce for the best finish since June 14, 2018.

In other precious metals futures prices Monday:

  • October platinum shed a dime to $863.70 an ounce, ranging from $856.10 to $865.90.

  • Palladium for September added $11.50, or 0.8%, to $1,430.80 an ounce, trading between $1,410.30 and $1,434.80.

Last week, platinum rose 1.3% and palladium gained 1.1%.

London Precious Metals Prices

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

  • Gold added $7, or 0.5%, to $1,504.70 an ounce.
  • Silver lost 4.5 cents, or 0.3%, to $16.955 an ounce.

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

In LBMA results last week, gains reached 3.9% for gold, 5% for silver, 2.6% for platinum, and 2.2% for palladium.

US Mint 2019 Bullion Sales

United States Mint bullion sales increased by 2,000 ounces in American Gold Eagles and by 92,000 ounces in American Silver 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)
Monday Last Week July August 2019 Sales
$50 American Eagle 1 Oz Gold Coin 1,500 1,000 2,500 2,500 83,500
$25 American Eagle 1/2 Oz Gold Coin 1,000 0 3,000 1,000 23,000
$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 0 500 500 1,000 49,000
$1 American Eagle 1 Oz Silver Coin 92,000 0 1,240,000 92,000 11,354,000
War in the Pacific 5 Oz Silver Coin 0 0 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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On the rise I find it always interesting when a new coin this week is to debut. The gold liberty. Gonna be like 2,000 to buy. Ridiculous!