Gold Little Changed; US Mint Coin Sales Surge

Two gold bullion bars
Gold, silver and platinum prices changed modestly Tuesday

Precious metals futures mixed it up on Tuesday. Gold was near unchanged, falling slightly and not far from an almost 5-1/2-year low. Silver edged higher.

Gold for August delivery dipped 20 cents to settle at $1,096.20 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices ranged from a low of $1,090.70 to a high of $1,098.20.

"Gold is still technically digesting the selloff from last week," MarketWatch quoted Colin Cieszynski, chief market strategist at CMC Markets. "Imagine dropping a ball off a roof, the first bounce is higher, then each subsequent bounce is lower until it essentially rolls flat along the ground," he said. "It’s leveled off near $1,100, waiting for a catalyst to spark a new move and determine the direction."

Gold prices climbed 1% on Monday after tumbling last week by 4.1% to end at their lowest point since Feb. 10, 2010.

Up for a second day in a row, silver for September delivery advanced 4 cents, or 0.3%, to close at $14.64 an ounce. Silver prices traded between $14.51 and $14.68.

In PGM futures on Tuesday:

  • October platinum slipped $2.50, or 0.3%, to $986.40 an ounce, ranging from $976.90 to $987.40.

  • Palladium for September delivery advanced $8.50, or 1.4%, to $621.60 an ounce, trading between $611.75 and $623.15.

London Precious Metals Prices

Earlier fixed London gold and silver prices declined. In comparing London bullion prices from Monday PM to Tuesday PM:

  • Gold fell $3.80, or 0.4%, to $1,096.20 an ounce.
  • Silver lost 15 cents, or 1%, to $14.54 an ounce.

LBMA platinum and palladium prices are displayed on the LBMA’s website with a delay of midnight after the setting of the prices each day.

US Mint Bullion Coin Sales in July

United States Mint bullion sales advanced Tuesday with gold coins gaining 5,000 ounces and silver coins jumping 1,223,500 ounces.

In American Silver Eagles, sales topped 1.2 million on Tuesday for a two-day total of more than 2.5 million. The 1.3 million sales haul on Monday was the highest since the 2015-dated Silver Eagle launched on Jan. 12. Prior to Monday, the coins were unavailable for nearly 3 weeks as the U.S. Mint ran out of stock on July 7. Silver Eagle sales for the month at over 5.2 million are the highest since the January total of more than 5.5 million.

American Gold Eagle sales in July now stand at 161,500 ounces, the highest in a month than any since sales of 209,500 ounces in April 2013.

Below is a listing of U.S. Mint bullion products that shows the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Tuesday Sales Last Week This Week June Sales July Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 3,500 37,500 17,500 62,500 140,000 338,500
$25 American Eagle 1/2 Oz Gold Coins 0 3,000 0 4,000 7,000 43,000
$10 American Eagle 1/4 Oz Gold Coins 2,000 4,000 2,000 12,000 24,000 94,000
$5 American Eagle 1/10 Oz Gold Coins 0 20,000 5,000 85,000 120,000 510,000
$50 American Buffalo 1 Oz Gold Coins 1,000 12,500 1,500 21,000 27,000 123,500
$1 American Eagle 1 Oz Silver Coins 1,221,500 0 2,545,000 4,840,000 5,254,000 27,040,000
2015 Homestead 5 Oz Silver Coins* 35,000
2015 Kisatchie 5 Oz Silver Coins* 42,000
2015 Blue Ridge Parkway 5 Oz Silver Coins 400 0 1,400 35,000 9,000 44,000


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