Precious metals logged gains Tuesday ranging from 0.6% for gold to 1.2% for palladium. Gold finished at a 14-month high, posting its fifth increase in six sessions.
Gold for August delivery rose $7.80 to settle at $1,350.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since April 18, 2018 when the yellow metal ended at $1,353.50 an ounce.
"The critical tenet of our bullish gold outlook is ‘Doves to the Rescue’, referring to the chorus of central banks that are on the threshold of signalling even looser monetary policy while trade and geopolitical risks remain eye-catching and on the rise," MarketWatch quoted Stephen Innes, managing partner at Vanguard Markets.
"If the Fed comes out anywhere near as dovish as the markets lean, gold will continue to march higher on the path paved with glittering gold bars," he said.
The Federal Reserve Open Market Committee (FOMC) will finish its two-day policy on Wednesday.
Gold futures ranged from a low of $1,342.10 to a high of $1,358.50. They stepped back 0.1% on Monday.
Silver for July delivery advanced 16.4 cents, or 1.1%, to close at $14.993 an ounce. Silver futures traded between $14.80 and $15.08. They gained 0.2% on Monday.
In rounding out precious metals futures Tuesday:
July platinum added $7.40, or 0.9% to $802 an ounce, ranging from $790.20 to $805.30.
- Palladium for September delivery finished up $17.80 to $1,473.30 an ounce, trading between $1,448.90 and $1,482.80.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold rose a nickel to $1,341.35 an ounce.
- Silver added 11.5 cents, or 0.8%, to $14.895 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint 2019 Bullion Sales
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. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Tuesday / This Week||Last Week||April||May||June||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||3,000||6,500||3,500||3,500||77,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||1,000||0||0||19,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||0||0||26,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||25,000||5,000||5,000||145,000|
|$50 American Buffalo 1 Oz Gold Coin||0||2,000||6,500||3,000||3,000||47,500|
|$1 American Eagle 1 Oz Silver Coin||0||326,500||1,196,000||866,000||550,000||9,537,000|
|American Memorial Park 5 Oz Silver Coin||0||0||N/A||78,000||0||78,000|
|Lowell 5 Oz Silver Coin*||N/A||80,000|
|$100 American Eagle 1 Oz Platinum Coin*||N/A||6,500||N/A||0||40,000|