Gold and silver futures logged a fourth straight loss in starting the new trading week on Monday.
Gold for December delivery declined $8.90, or 0.7%, to settle at $1,325.60 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the weakest since Sept. 1.
"Gold prices ended the U.S. day session moderately lower Monday, as the marketplace is increasing the odds that a U.S. interest rate hike from the Federal Reserve could come yet this year — and as early as next week," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
Gold futures ranged from a low of $1,323.60 to a high of $1,333.80. They edged up 0.6% last week.
Silver for December delivery lost 36.8 cents, or 1.9%, to settle at $19.00 an ounce. Silver futures traded between $18.76 and $19.25. They climbed last week by less than 0.1%.
In other precious metals trading:
-
October platinum dropped $24.60, or 2.3%, to $1,042.90 an ounce, ranging from $1,039.10 to $1,069.30.
- Palladium for December delivery fell $22.75, or 3.4%, to $656.70 an ounce, trading between $653.10 and $677.50.
Last week, the two metals gained 0.5% and 0.9%.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Friday PM to Monday PM:
- Gold declined $6.25, or 0.5%, to $1,324.60 an ounce.
- Silver sank 69 cents, or 3.6%, to $18.72 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
London metal prices posted gains last week of 0.5% for gold, 3.5% for silver, 2% for platinum and 1.2% for palladium.
US Mint Bullion Coin Sales in 2016
United Sates Mint bullion sales were unchanged Monday. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold during varying periods Products with an asterisk (*) are no longer available.
| US Mint Bullion Sales (# of coins) | |||||
|---|---|---|---|---|---|
| Monday Sales | Last Week | Aug Sales | Sept Sales | 2016 Sales | |
| $100 American Eagle 1 Oz Platinum Coins* | 0 | 0 | 1,000 | 0 | 20,000 |
| $50 American Eagle 1 Oz Gold Coins | 0 | 14,500 | 50,000 | 19,500 | 505,500 |
| $25 American Eagle 1/2 Oz Gold Coins | 0 | 1,000 | 3,000 | 2,000 | 53,000 |
| $10 American Eagle 1/4 Oz Gold Coins | 0 | 6,000 | 4,000 | 6,000 | 106,000 |
| $5 American Eagle 1/10 Oz Gold Coins | 0 | 20,000 | 60,000 | 35,000 | 650,000 |
| $50 American Buffalo 1 Oz Gold Coins | 0 | 3,500 | 9,000 | 4,500 | 136,000 |
| $1 American Eagle 1 Oz Silver Coins | 0 | 170,000 | 1,280,000 | 310,000 | 29,210,500 |
| 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 | 1,900 | 0 | 36,100 |
| 2016 Theodore Roosevelt 5 Oz Silver Coins | 0 | 1,500 | 27,500 | 1,500 | 29,000 |
