Gold And Silver Log Third Losses In Four Sessions

by CoinNews.net on August 13, 2019 · 0 comments

Large silver bullion bar, smaller gold bar and nugget

Gold and silver traded lower Tuesday, Aug. 13

Gold and silver futures declined for the third time in four sessions Tuesday as safe-havens saw pressure from news that the U.S. backed off on imposing tariffs on some Chinese imports.

Gold for December delivery lost $3.10, or 0.2%, to settle at $1,514.10 an ounce on the Comex division of the New York Mercantile Exchange.

"A thawing, perhaps reconsideration of the new proposed tariffs has drained the heat from the (gold) rally for now," Reuters quoted Tai Wong, head of base and precious metals derivatives trading at BMO.

"While this does not dramatically dim the overall positive outlook for gold, it will temper its momentum in the short term."

Gold futures ranged from a low of $1,488.90 to a high of $1,546.10. They rose 0.6% on Monday. Last Wednesday, they ended at $1,519.60 an ounce for their highest settlement since April 11, 2013.

Silver for September delivery shed 8.6 cents, or 0.5%, to settle at $16.985 an ounce. Silver futures traded between $16.51 and $17.49. They gained 0.8% on Monday. Last Wednesday, they settled at $17.196 an ounce for the best finish since June 14, 2018.

In other precious metals futures dealings Tuesday:

  • October platinum declined $4, or 0.5%, to $859.70 an ounce, ranging from $839.70 to $870.20.

  • Palladium for September tacked on $20.70, or 1.5%, to $1,451.50 an ounce, trading between $1,412 and $1,455.60.

London Precious Metals Prices

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

  • Gold declined $6.30, or 0.4%, to $1,498.40 an ounce.
  • Silver surged 49 cents, or 2.9%, to $17.445 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 Tuesday. 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 Last Week This Week July August 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 1,000 1,500 2,500 2,500 83,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 3,000 1,000 23,000
$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 0 500 1,000 49,000
$1 American Eagle 1 Oz Silver Coin 0 0 92,000 1,240,000 92,000 11,354,000
War in the Pacific 5 Oz Silver Coin 0 0 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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