Silver Marks First Loss in Five Sessions, Gold Slips 0.8%

by CoinNews.net on August 29, 2019 · 0 comments

Silver Bullion Bar and American Silver Eagle Bullion Coin

Silver futures shed 0.7% on Thursday, Aug. 29

Precious metals futures divided Thursday with gold and silver lower and platinum and palladium higher. Silver’s decline was its first in five sessions and after claiming a more than two-year high on Wednesday. Gold’s loss was its second in a row after peaking to a more than six-year high on Tuesday.

Gold for December delivery fell $12.20, or 0.8%, to settle at $1,536.90 an ounce on the Comex division of the New York Mercantile Exchange.

"There is more optimism on the [U.S.-China] trade talks and that seems to have some people lightening up on gold," Reuters quoted Michael Matousek, head trader at U.S. Global Investors. "Gold has been up for the past few months, and it’s not like it is breaking down. You still want to buy pull-backs on gold."

Gold futures ranged from a low of $1,528.60 to a high of $1,559.80. They slipped 0.2% on Wednesday, they rose 1% on Tuesday — marking their highest settlement since April 11, 2013, and they edged 0.03% lower on Monday.

Silver for December delivery lost 13.3 cents, or 0.7%, to close at $18.323 an ounce. Silver futures ranged from a low of $18.15 to a high of $18.76. They gained 0.9% on Wednesday — registering their best finish since April 17, 2017, they rallied 2.9% on Tuesday, and they rose 1.3% on Monday.

In other precious metals futures prices on Thursday:

  • October platinum added $11.10, or 1.2%, to $920 an ounce, trading between $897.70 and $939.

  • Palladium for December delivery climbed $9, or 0.6%, to $1,471.50 an ounce, ranging from $1,462 to $1,485.40.

London Precious Metals Prices

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

  • Gold added $3.05, or 0.2%, to $1,540.20 an ounce.
  • Silver rose 11.5 cents, or 0.6%, to $18.48 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 2,500 500 2,500 5,500 86,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 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 0 500 500 1,500 49,500
$1 American Eagle 1 Oz Silver Coin 0 647,000 138,000 1,240,000 1,007,000 12,269,000
War in the Pacific 5 Oz Silver Coin 0 4,500 0 57,000 12,500 69,500
American Memorial Park 5 Oz Silver Coin* 0 2,000 0 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

 

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