Gold Edges Up From One-Year Low

by CoinNews.net on July 18, 2018 · 0 comments

US Dollars and Gold Bullion Bars

Precious metals futures ended mostly lower Wednesday, July 18

Silver, platinum and palladium declined for a fourth straight session Wednesday. Gold, meanwhile, edged up from its lowest price in a year for its first gain in four sessions.

Gold for August delivery rose 60 cents, or less than 0.1%, to settle at $1,227.90 an ounce on the Comex division of the New York Mercantile Exchange. The yellow metal gained as the U.S. dollar eased.

"The dollar came off a little bit later in trade, causing gold to go into positive territory, but I think it’s temporary," Reuters quoted Walter Pehowich of Dillon Gage.

Gold futures traded from a low of $1,220.90 to a high of $1,229.10. They fell 1% on Tuesday — ending at their weakest point since July 13, 2017, and they dipped 0.1% on Monday.

Elsewhere, silver for September shed 4.3 cents, or 0.3%, to finish at $15.574 an ounce. The settlement is the lowest since July 7, 2017, when prices ended at $15.425 an ounce. Silver futures ranged from $15.41 to $15.63. They declined 1.2% on Tuesday and lost less than a half cent on Monday.

In PGM futures on Wednesday:

  • October platinum slipped $2.10, or 0.3%, to $817.80 an ounce, trading between $807.20 and $821.50.

  • Palladium for September delivery fell $7.40, or 0.8%, to $901.80 an ounce, ranging from $900 to $910.

London Precious Metals Prices

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

  • Gold declined $8.30, or 0.7%, to 1,224.50 an ounce.
  • Silver fell 33 cents, or 2.1%, to $15.44 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 advanced by 155,000 ounces in American Silver Eagles, 500 ounces in American Gold Buffalos, and a combined 6,500 ounces in American Gold Eagles.

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)
Wednesday 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 5,500 6,000 8,000 21,500 20,500 108,000
$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 10,000 0 15,000 15,000 15,000 140,000
$50 American Buffalo 1 Oz Gold Coin 500 5,500 500 6,500 11,500 65,000
$1 American Eagle 1 Oz Silver Coin 155,000 290,000 180,000 435,000 545,000 7,367,500
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

 

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