Gold Marks 1-Week High in September Start

by on September 1, 2015 · 0 comments

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


Notify of
Inline Feedbacks
View all comments