Gold Reclaims Best Close Since 2013; Silver Ends Above 2-Year High

by CoinNews.net on August 27, 2019 · 0 comments

Three Gold Bullion Bars, Dark Background

Gold and silver logged fresh multi-year highs on Tuesday, Aug. 27

Precious metals posted gains Tuesday that ranged from 0.4% for palladium to 2.9% for silver. Silver marked its best close in more than two years and gold reclaimed its more than six-year high.

Gold for December delivery tacked on $14.60, or 1%, to settle at $1,551.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since April 11, 2013 when gold ended at $1,564.90 an ounce.

"Overall if trade tensions remain elevated, gold can count on this issue as being flat out supportive," MarketWatch quoted Stephen Innes, managing partner at Valour Markets, in a note. "From my seat, it sure feels like the risk roller coaster has crested and may be setting up for the next drop soon."

Gold futures ranged from a low of $1,535.30 to a high of $1,554.50. They dipped 0.03% on Monday.

Silver for September delivery soared 51.2 cents to close at $18.153 an ounce. The settlement was the strongest since April 19, 2017, when the precious metal finished at $18.162 an ounce. Silver futures ranged from a low of $17.61 to a high of $18.19. They gained 1.3% on Monday.

In other precious metals futures prices on Tuesday:

  • October platinum rose $10.40, or 1.2%, to $868.20 an ounce, trading between $857.60 and $871.70.

  • Palladium for September added $6 to $1,478.30 an ounce, ranging from $1,467 to $1,480.40.

London Precious Metals Prices

London market closed Monday for Summer Bank Holiday. In comparing fixed London gold and silver prices from Friday PM to Tuesday PM:

  • Gold gained $29.95, or 2%, to $1,532.95 an ounce.
  • Silver surged 67.5 cents, or 4%, to $17.725 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 advanced by a combined 1,000 ounces in gold coins and by 138,000 ounces in silver coins.

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 500 2,500 2,500 5,500 86,500
$25 American Eagle 1/2 Oz Gold Coin 0 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 500 0 500 1,500 49,500
$1 American Eagle 1 Oz Silver Coin 138,000 647,000 1,240,000 1,007,000 12,269,000
War in the Pacific 5 Oz Silver Coin 0 4,500 57,000 12,500 69,500
American Memorial Park 5 Oz Silver Coin* 0 2,000 0 2,000 80,000
Lowell 5 Oz Silver Coin* N/A 80,000
$100 American Eagle 1 Oz Platinum Coin* N/A 40,000

 

Leave a Reply

avatar
  
smilegrinwinkmrgreenneutraltwistedarrowshockunamusedcooleviloopsrazzrollcryeeklolmadsadexclamationquestionideahmmbegwhewchucklesillyenvyshutmouth
  Subscribe  
Notify of