Precious metals futures kicked off the new trading week and month on Monday with gains ranging from 0.2% for gold to 1.1% for platinum. Silver rallied to a two-year high while gold ended at an almost one-month high.
Gold for December delivery rose $2.10 to settle at $1,359.60 an ounce on the Comex division of the New York Mercantile Exchange. The close is the highest since July 7 when the yellow metal ended at $1,362.10 an ounce.
"Gold needs to break through $1,380 to race higher, but silver is moving 5+ % when gold is moving 1.4%," MarketWatch quoted Julian Phillips, founder and contributor to GoldForecaster.com.
Gold futures traded from a low of $1,353.20 to a high of $1,361.90. They climbed 2.6% last week, gaining 2.8% in July.
Silver for September delivery tacked on 15.3 cents, or 0.8%, to close at $20.50 an ounce. The settlement is the highest since July 30, 2014 when prices ended at $20.60 an ounce. Silver futures ranged from $20.33 to $20.70. They advanced 3.3% last week and logged a monthly increase of 9.3%. With their gains on Monday, they are 48.5% higher on the year to date.
In other precious metals dealings on Monday:
October platinum settled up $12.70 to $1,163.30 an ounce, trading between $1,149.70 and $1,168.
- Palladium for September delivery tacked on $6.50, or 0.9%, to $716.25 an ounce, ranging from $706 to $724.55.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold added $7.65, or 0.6%, to $1,349.65 an ounce.
- Silver jumped 52 cents, or 2.6%, to $20.51 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Coin Sales in 2016
United States Mint bullion sales were unchanged Monday, following weaker levels in July. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold during varying periods of time. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Monday / August Sales||Last Week||June Sales||July Sales||2016 Sales|
|$100 American Eagle 1 Oz Platinum Coins||0||19,000||N/A||19,000||19,000|
|$50 American Eagle 1 Oz Gold Coins||0||7,500||62,500||30,000||436,000|
|$25 American Eagle 1/2 Oz Gold Coins||0||0||3,000||2,000||48,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||2,000||10,000||10,000||96,000|
|$5 American Eagle 1/10 Oz Gold Coins||0||25,000||70,000||50,000||555,000|
|$50 American Buffalo 1 Oz Gold Coins||0||2,000||14,500||10,000||122,500|
|$1 American Eagle 1 Oz Silver Coins||0||175,000||2,837,500||1,370,000||27,620,500|
|2016 Shawnee 5 Oz Silver Coins*||0||0||0||0||105,000|
|2016 Cumberland Gap 5 Oz Silver Coins*||0||0||0||0||75,000|
|2016 Harpers Ferry 5 Oz Silver Coins||0||0||34,200||0||34,200|