Gold and Silver Now at 1-Year Lows

by CoinNews.net on July 17, 2018 · 0 comments

Large silver bullion bar, smaller gold bar and nugget

Losses in precious metals futures ranged from 0.5% for palladium to 1.2% for silver

Precious metals futures on Tuesday declined as a group for a third straight session. Both gold and silver posted their lowest settlements in just over a year.

Gold for August delivery shed $12.40, or 1%, to finish at $1,227.30 an ounce on the Comex division of the New York Mercantile Exchange. The close is the lowest since July 13, 2017, when prices ended at $1,217.30 an ounce.

"The precious metals dropped in conjunction with comments from Federal Reserve Chairman Jerome Powell today that suggested the U.S. economy is strong and inflation is tame," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Powell’s remarks lifted the U.S. dollar index to its daily high."

Gold futures traded from a low of $1,225.90 to a high of $1,245.10. They dipped 0.1% on Monday.

Elsewhere, silver for September fell 19.5 cents, or 1.2%, to close at $15.617 an ounce. The settlement is the worst since July 7, 2017, when prices ended at $15.425 an ounce. Silver futures ranged from $15.56 to $15.89. They lost less than a half cent on Monday.

In rounding out precious metals dealings:

  • October platinum declined $6.50, or 0.8%, to $819.90 an ounce, trading between $817.0 and $832.40.

  • Palladium for September delivery lost $4.30, or 0.5%, to $909.20 an ounce, ranging from $902 to $923.40.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:

  • Gold declined $8.30, or 0.7%, to 1,232.80 an ounce.
  • Silver slipped 4 cents, or 0.3%, to $15.77 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint Bullion Sales in 2018

United States Mint bullion sales were unchanged. 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 Last Week This Week June July 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 30,000
$50 American Eagle 1 Oz Gold Coin 0 6,000 2,500 21,500 15,000 102,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 1,000 18,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 4,000 0 48,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 5,000 15,000 5,000 130,000
$50 American Buffalo 1 Oz Gold Coin 0 5,500 0 6,500 11,000 64,500
$1 American Eagle 1 Oz Silver Coin 0 290,000 25,000 435,000 390,000 7,212,500
Pictured Rocks 5 Oz Silver Coin 0 0 0 0 0 30,000
Apostle Islands 5 Oz Silver Coin 0 0 0 0 0 30,000
Voyageurs 5 Oz Silver Coin 0 0 0 30,000 0 30,000

 

Leave a Reply

avatar
  
smilegrinwinkmrgreenneutraltwistedarrowshockunamusedcooleviloopsrazzrollcryeeklolmadsadexclamationquestionideahmmbegwhewchucklesillyenvyshutmouth
  Subscribe  
Notify of