Precious Metals Mixed on Monday, Aug. 19

by CoinNews.net on August 19, 2019 · 0 comments

One gold bullion bar

Gold futures slipped 0.8% on Monday, Aug. 19

Precious metals futures divided for a second straight session Monday with back-to-back losses in gold and silver and another pair of wins in platinum and palladium.

Gold for December delivery lost $12, or 0.8%, to settle at $1,511.60 an ounce on the Comex division of the New York Mercantile Exchange.

"There has been some pullback in terms of the concerns over the risk of a recession. Perhaps the market’s reaction to events in the past week have been too much, so there has been some positive retracement of equity markets and downward pressure on gold," Reuters quoted Jeff Klearman, portfolio manager at GraniteShares.

Gold futures ranged from a low of $1,503.30 to a high of $1,523.60. They climbed 1% last week. On Thursday, they finished at $1,531.20 an ounce for their strongest settlement since April 11, 2013.

Silver for September delivery shed 4.6 cents, or 0.3%, to close at $17.076 an ounce. Silver futures traded between $16.96 and $17.26. They rose 1.1% last week. On Wednesday, they closed at $17.28 an ounce for their highest settlement since ending at $17.441 an ounce on Jan. 26, 2018.

In other precious metals futures prices Monday:

  • October platinum added $5.30, or 0.6%, to $856.80 an ounce, ranging from $845.40 to $860.90.

  • Palladium for September surged $33, or 2.3%, to $1,474.30 an ounce, trading between $1,438.60 and $1,479.10.

Last week, platinum declined 1.4% and palladium rose 1.6%.

London Precious Metals Prices

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

  • Gold declined $18.65, or 1.2%, to $1,496.60 an ounce.
  • Silver fell 23.5 cents, or 1.4%, to $16.925 an ounce.

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

In LBMA results last week, three of four prices advanced. Increases totaled 1.2% for gold, 0.9% for silver, and 0.8% for palladium, while platinum fell 3.5%.

US Mint 2019 Bullion Sales

The United States Mint reported no bullion gains to start the week. 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 0 1,500 2,500 2,500 83,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 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 0 500 1,000 49,000
$1 American Eagle 1 Oz Silver Coin 0 222,000 1,240,000 222,000 11,484,000**
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

** The U.S. Mint on Monday adjusted Silver Eagle sales for August, pulling them down 30,000 to 222,000. The YTD total resultantly changed to 11,484,000.

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