Gold declined and ended below $1,300 an ounce to kick off the new trading week on Monday.
Gold for December delivery slipped $6.90, or 0.5%, to close at $1,299.30 an ounce on the Comex division of the New York Mercantile Exchange.
"There was some selling as Tokyo and China opened this morning sending gold to session lows," Reuters quoted a trader in Sydney. "I wouldn’t be surprised if gold prices edge towards the support level at the 200-day moving average of $1,285," the trader said.
Gold prices ranged from an intraday low of $1,296.50 to a high of $1,304.90. Gold retreated 0.4% last week.
Silver for September delivery advanced 11 cents, or 0.6%, to $19.64 an ounce, trading between $19.47 and $19.68. Silver prices plunged last week by 2.1%.
In PGM fugures on Monday:
October platinum shed $11, or 0.8%, to $1,446.20 an ounce, ranging from $1,445.70 and $1,458.40.
- Palladium for September delivery rose 40 cents to $894.90 an ounce, trading between $892.55 and $902.75.
Last week, platinum declined 1.4% but palladium surged 4%.
London Fix Precious Metals
Earlier fixed London precious metals were mixed as well. When contrasting London bullion Fix prices and the LBMA Silver Price from Friday PM to Monday PM:
- Gold edged up 75 cents to $1,296.75 an ounce,
- Silver fell 27 cents, or 1.4%, to $19.59
- Platinum rose $2, or 0.1%, to $1,448 an ounce, and
- Palladium gained $20, or 2.3%, to $898 an ounce
US Mint Bullion Sales in August
U.S. Mint bullion sales were unchanged Monday as of 2:41 PM ET. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold last week, last month, the month so far, and the year to date.
|American Eagle and Buffalo Bullion Sales (# of coins)|
|Monday Sales||Sales Last Week||July Sales||August Sales||YTD Sales|
|$100 American Platinum Eagle Bullion Coins||0||400||0||400||13,300|
|$50 American Eagle Bullion Gold Coins||0||3,000||26,000||13,000||237,500|
|$25 American Eagle Bullion Gold Coins||0||0||0||0||27,000|
|$10 American Eagle Bullion Gold Coins||0||0||6,000||2,000||80,000|
|$5 American Eagle Bullion Gold Coins||0||5,000||25,000||20,000||405,000|
|$50 American Buffalo Bullion Gold Coins||0||500||5,500||4,500||121,500|
|$1 American Eagle Silver Bullion Coins||0||225,000||1,975,000||1,180,000||27,283,500|
|Great Smoky Mountains National Park 5 Oz Silver Bullion Coins||0||0||500||0||29,500|
|Shenandoah National Park 5 Oz Silver Bullion Coins||0||0||0||0||20,000|
|Arches National Park 5 Oz Silver Bullion Coins||0||0||1,500||0||20,000|