Precious metals futures declined in kicking off the new trading week, aside from silver which gained 0.3%. Gold pressed its losing streak to three in row.
Gold for December delivery lost $4.40, or 0.3%, to settle at $1,511.10 an ounce on the Comex division of the New York Mercantile Exchange.
“The main trend remains positive, even though prices are now playing with the psychological level of $1,500 and there could be space for a further correction to around $1,475, without affecting the main bullish trend,” Carlo Alberto De Casa, chief analyst at brokerage ActivTrades, said a daily research note according to MarketWatch.
Gold futures ranged from a low of $1,505.50 to a high of $1,523.80. They declined last week by 0.9%. On Wednesday, they closed at $1,560.40 an ounce for their highest settlement since April 11, 2013.
Silver for December delivery added 4.8 cents to finish at $18.167 an ounce. Silver futures traded between $18.01 and $18.40. They slipped 1.2% last week. On Wednesday, silver ended at $19.547 an ounce for its best settlement since Sept. 26, 2016.
In other precious metals futures prices Monday:
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October platinum shed $5.80, or 0.6%, to $952.70 an ounce, ranging from $945.30 to $965.
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Palladium for December delivery fell $7.90, or 0.5%, to $1,536.80 an ounce, trading between $1,518.60 and $1,557.60.
Last week, platinum gained 2.9% and palladium rose 0.4%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold declined $14.50, or 1%, to $1,509.20 an ounce.
- Silver rose 2.5 cents, or 0.1%, to $18.17 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
In LBMA results last week, prices climbed 0.9% for platinum while falling 0.3% for gold, 1.3% for silver, and 0.1% for palladium.
US Mint 2019 Bullion Sales
United States Mint bullion sales advanced by a 1,000 ounces in American Gold Eagles and by a combined 454,500 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) | |||||
|---|---|---|---|---|---|
| Monday | Last Week | August | September | 2019 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 1,000 | 1,500 | 6,500 | 2,500 | 89,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 1,000 | 0 | 23,000 |
| $10 American Eagle 1/4 Oz Gold Coin** | 0 | 0 | 0 | 0 | 28,000 |
| $5 American Eagle 1/10 Oz Gold Coin*** | 0 | 5,000 | 0 | 10,000 | 170,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 500 | 1,500 | 500 | 50,000 |
| $1 American Eagle 1 Oz Silver Coin | 442,000 | 11,000 | 1,007,000 | 453,000 | 12,722,000 |
| War in the Pacific 5 Oz Silver Coin | 2,500 | 0 | 12,500 | 2,500 | 72,000 |
| American Memorial Park 5 Oz Silver Coin* | 0 | 0 | 2,000 | 0 | 80,000 |
| Lowell 5 Oz Silver Coin* | N/A | 80,000 | |||
| $100 American Eagle 1 Oz Platinum Coin* | N/A | 40,000 | |||
**U.S. Mint figures on Monday showed and August adjustment for 1/4oz American Gold Eagles of -2,000 ounces to zero, pulling their year-to-date total down to 28,000.
***U.S. Mint figures also indicated an adjustment for 1/10oz American Gold Eagles of -5,000 ounces in August to zero and +5,000 ounces in September to 10,000 ounces.
