Precious metals futures ended divided on Tuesday. Gold and silver posted a second straight day of losses while platinum and palladium advanced. Gold ended at a more than six-month low.
Gold for August delivery dropped $9, or 0.7%, to finish at $1,259.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the lowest since Dec. 15.
"Despite the threat of a major world trade war on the horizon, the marketplace is not seeing keen risk aversion — at least not enough to boost the safe-haven metals," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Instead, gold and silver are following their raw commodity counterparts lower on worries of less world trade in raw commodities if a full blown trade war breaks out between the U.S. and the other major economies of the world."
Gold futures ranged from a low of $1,256.40 to a high of $1,269.40. They dipped 0.1% on Monday.
Elsewhere, silver for July delivery declined 7.8 cents, or 0.5%, to settle at $16.25 an ounce. Silver futures traded between $16.14 and $16.35. They lost 0.8% on Monday.
In rounding out precious metals futures trading:
July platinum rose $2.50, or 0.3%, to $871.30 an ounce, ranging from $859.40 to $872.30.
- Palladium for September delivery jumped $19.30, or 2.1%, to $954.70 an ounce, trading between $925.30 and $958.50.
Last week, platinum fell 1.6% and palladium tumbled 3.6%.
London Precious Metals Prices
LBMA bullion prices are available on the LBMA website with a delay of midnight.
US Mint Bullion Sales in 2018
United States Mint bullion sales were limited to American Eagle gold and silver coins. The gold pieces advanced by a combined 6,000 ounces. Silver Eagles moved up by 95,000.
Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.
|US Mint Bullion Sales (# of coins)|
|Tuesday / This Week||Last Week||May||June||2018 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||10,000||0||30,000|
|$50 American Eagle 1 Oz Gold Coin||5,500||0||18,500||16,500||82,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||1,000||17,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||18,000||4,000||48,000|
|$5 American Eagle 1/10 Oz Gold Coin||5,000||5,000||10,000||15,000||125,000|
|$50 American Buffalo 1 Oz Gold Coin||0||1,000||16,500||6,000||53,000|
|$1 American Eagle 1 Oz Silver Coin||95,000||215,000||380,000||435,000||6,822,500|
|Pictured Rocks 5 Oz Silver Coin||0||0||0||0||30,000|
|Apostle Islands 5 Oz Silver Coin||0||0||0||0||30,000|
|Voyageurs 5 Oz Silver Coin||0||28,900||0||28,900||28,900|