Gold Marks 1-Week High in September Start

Silver bullion bars, gold bullion bars, scales
Gold and silver settled higher to start the new month while platinum and palladium ended lower

Gold futures closed to a one-week high in their start to the new trading month on Tuesday as safe-haven demand climbed on the back of another day of sharp losses in U.S. stocks.

Gold for December delivery rose $7.30, or 0.6%, to settle at $1,139.80 an ounce on the Comex division of the New York Mercantile Exchange. The close was the highest since Monday, Aug. 24.

"There’s a bit of new buying, as we’re attracting some haven seekers," George Gero, a vice president of global futures at RBC Capital Markets in New York, said in a telephone interview according to Bloomberg News. "It’s starting to attract some attention because of the severe downdraft of stocks."

The yellow metal traded from a low of $1,133.80 to a high of $1,147.30. On Monday, gold prices slipped 0.1%, trimming gains in August to 3.4%.

Silver futures advanced for a fourth straight session with the December contract up 3 cents, or 0.2%, to close at $14.62 an ounce. Silver prices ranged from a low of $14.51 to a high of $14.76. In August, they declined by 1.1%.

In PGM futures on Tuesday:

  • October platinum dipped $2.10, or 0.2%, to $1,008.40 an ounce, trading between $1,000.10 and $1,017.40.

  • Palladium for December delivery dived $23.05, or 3.8%, to $579.20 an ounce, ranging from $576.35 to $599.50.

London Precious Metals Prices

Markets in the U.K. closed on Monday for a holiday. In comparing London gold and silver prices from Friday PM to Tuesday PM:

  • Gold added $7.30, or 0.6%, to $1,142.30 an ounce.
  • Silver gained 24 cents, or 1.7%, to $14.68 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 September

United States Mint bullion sales were unchanged Tuesday as of 4:04 p.m. ET. Sales rallied in August.

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

US Mint Bullion Sales (# of coins)
Tuesday / Sept Sales Last Week This Week August Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 0 47,500 9,000 78,500 421,500
$25 American Eagle 1/2 Oz Gold Coins 0 4,000 1,000 8,000 54,000
$10 American Eagle 1/4 Oz Gold Coins 0 12,000 6,000 24,000 122,000
$5 American Eagle 1/10 Oz Gold Coins 0 40,000 35,000 130,000 655,000
$50 American Buffalo 1 Oz Gold Coins 0 12,000 2,500 20,000 148,500
$1 American Eagle 1 Oz Silver Coins 0 812,500 755,000 4,935,000 32,250,000
2015 Homestead 5 Oz Silver Coins* 35,000
2015 Kisatchie 5 Oz Silver Coins* 42,000
2015 Blue Ridge Parkway 5 Oz Silver Coins* 45,000


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