Gold, Silver Rise 0.5%; US Mint Gold Bullion Coins Gain

Gold rose as did sales totals for major U.S. Mint gold bullion coins
Gold rose as did sales totals for major U.S. Mint gold bullion coins

Gold and silver settled higher Monday, rebounding from losses on Friday and adding to sizable gains this month.

Gold for August delivery closed higher by $6.90, or 0.5%, to $1,328.40 an ounce on the Comex division of the New York Mercantile Exchange. Trading occurred between intraday levels of $1,322.60 and $1,338.10.

"There is some physical demand from the Far East" Peter Hug, the global trading director of Kitco Metals Inc., said in a report according to Bloomberg News. "Traders and investors are looking ahead to the U.S. Federal Open Market Committee meeting that ends Wednesday for more guidance."

Gold ended 0.6% lower Friday but still scored a 2.2% weekly gain. For July so far, the precious metal has advanced $104.70, or 8.6%.

Silver also notched a 0.5% daily increase with September futures up 9.3 cents to $19.86 an ounce. Prices ranged from an intraday low of $19.66 to a high of $20.20. The white metal gained 1.6% last week and it is up for the month by 2%.

In PGM futures on Monday:

  • October platinum added $19.90, or 1.4%, to $1,442.70 an ounce, trading between $1,422.10 and $1,448.80.

  • Palladium for September delivery soared $20.65, or 2.9%, to $744.65 an ounce, ranging from $721.50 and $747.70.

In trading action last week, platinum declined 0.6% and palladium fell 3.4%. The two metals mark respective month to date increases of 7.7% and 12.7%.

London Fix Precious Metals

Changes in London precious metals fixings were narrow to flat.  In contrasting the Friday PM to Monday PM London Fix prices:

  • Gold dipped $1.25, or 0.1%, to $1,329.75 an ounce,
  • Silver inched up 8 cents, or 0.4%, to $20.10 an ounce,
  • Platinum added $8, or 0.6%, to $1,436 an ounce, and
  • Palladium was unchanged at $731 an ounce

Last week, palladium declined 1.6% while other precious metals climbed with increases of 2.7% for gold, 3.1% for silver and 0.4% for platinum.

US Bullion Coin Sales in July

Sales totals for United States Mint bullion products advanced for gold coins but remained unchanged for silver coins. In ounces, U.S. Mint distributors ordered 3,500 ounces of Gold Eagles and 3,500 ounces of Gold Buffalos. The daily 7,000 total is more than sold through all of last week when 4,000 ounces were claimed.

Sales of popular Silver Eagles have been silent since a week ago when they soared 925,000 for one of the best days of the year.

The following table offers daily, July and year-to-date bullion coin totals as published by the U.S. Mint on its website.

American Eagle and Buffalo Bullion Coin Sales
  Monday / Week-To-Date Sales Last Week July Sales YTD Sales
$50 American Eagle Gold Bullion Coins 3,000 4,000 33,500 578,000
$25 American Eagle Gold Bullion Coins 0 0 4,000 47,000
$10 American Eagle Gold Bullion Coins 0 0 6,000 92,000
$5 American Eagle Gold Bullion Coins 5,000 0 30,000 445,000
$50 American Buffalo Gold Bullion Coins 3,500 0 17,000 178,500
White Mountain 5 oz. Silver Bullion Coins 0 0 2,900 29,900
Perry’s Victory 5 oz. Silver Bullion Coins 0 800 6,600 20,800
Great Basin 5 oz. Silver Bullion Coins 0 0 7,500 17,400
American Silver Eagle Bullion Coins 0 925,000 3,456,500 28,500,000


Figures above are in the number of coins sold, not in ounces.

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