Gold advanced slightly in thin trading Monday with London markets closed for a holiday.
Gold prices for December delivery added $2.70, or 0.2%, to settle at $1,675.60 an ounce. Prices traded from an intraday low of $1,668.50 to a high of $1,679.30.
"Volumes are rather thin so far this morning, with London out for Bank Holiday," Alexander Zumpfe, a trader at precious metals house Heraeus, said according to Reuters. "Gold is on the edge to trade through the upper side of its four-month range. It needs a more convincing break of the $1,675 level before a test of $1,700 is back on the cards.
"With further monetary easing possible, the environment remains supportive. However, after last week’s relatively steep run-up, a failure of a break through $1,675 might end up in some profit-taking."
In other New York precious metals futures:
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Silver for December delivery surged 42.7 cents, or 1.4%, to close at $31.048 an ounce. Silver prices ranged from $30.650 to $31.225.
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Platinum for October delivery declined $1.20, or 0.1%, to $1,553.20 an ounce, trading between $1,540.80 and $1,557.70.
- Palladium for September delivery settled up $2.60, or 0.4%, to $654.75 an ounce, trading between $644.85 and $655.80.
Precious metals advanced last week with gains of 3.3% for gold, 9.4% for silver 7.8% for palladium and 5.5% for platinum.
London Precious Metals
London markets were closed Monday for a bank holiday. Friday’s London PM Fix prices were:
- Gold at $1,667.00 an ounce,
- Silver at $30.37 an ounce,
- Platinum at $1,537.00 an ounce, and
- Palladium at $643.00 an ounce
Last week’s gains in London precious metals were 3.2% for gold, 7.7% for silver, 5.6% for platinum and 8.6% for palladium.
Sales of U.S. Mint Bullion Coins
Sales levels for U.S. Mint bullion coins were unchanged Monday. The following grid offers the most recent daily, August and year-to-date bullion sales figures, as published by the U.S. Mint.
| US Mint American Eagle and Buffalo Bullion Coin Sales | |||
|---|---|---|---|
| Daily Gains | August Gains | YTD 2012 | |
| $50 American Eagle Gold Coins | 0 | 21,000 | 334,500 |
| $25 American Eagle Gold Coins | 0 | 1,000 | 57,000 |
| $10 American Eagle Gold Coins | 0 | 0 | 54,000 |
| $5 American Eagle Gold Coins | 0 | 20,000 | 210,000 |
| $50 American Buffalo Gold Coins | 0 | 6,500 | 85,500 |
| American Silver Eagle Coins | 0 | 2,121,000 | 21,791,000 |
| America the Beautiful 5 Oz. Silver Bullion Coin Sales | |||
|---|---|---|---|
| Daily Gains | August Gains | All-Time Total | |
| 2012 El Yunque National Forest 5 oz. Silver Coins | 0 | 600 | 13,800 |
| 2012 Chaco Culture National Historical Park 5 oz. Silver Coins | 0 | 1,100 | 8,500 |
| 2012 Acadia National Park 5 oz. Silver Coins | 0 | 5,200 | 15,100 |
| 2011 Olympic National Park 5 oz. Silver Coins | 0 | 300 | 85,800 |
| 2011 Vicksburg National Military Park 5 oz. Silver Coins | 0 | 100 | 39,200 |
| 2011 Chickasaw Park 5 oz. Silver Coins | 0 | 100 | 29,500 |
| TOTAL | 0 | 7,400 | 191,900 |
U.S. Mint bullion sales above are in coin totals, not in amount of ounces sold.
