Gold futures extended their bullish advances Monday, securing a third straight increase and another almost six-year high.
Gold for August delivery tacked on $18.10, or 1.3%, to settle at $1,418.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Aug. 28, 2013 when gold ended at $1,418.80 an ounce.
"Safe-haven demand amid heightened geopolitical events is keeping gold prices on the rise. So is a slumping U.S. dollar index that hit a three-month low today," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "And while we’re at it, let’s add to the bullish mix recent easy-leaning monetary policies of the world’s major central banks and the bullish technical chart posture for the yellow metal."
Gold futures ranged from a low of $1,403.60 to a high of $1,421. They rallied 4.1% last week.
Meanwhile, silver for July delivery rose 8.7 cents, or 0.6%, to close at $15.377 an ounce. Silver futures traded between $15.28 and $15.46. They gained 3.3% last week. On Thursday, they settled at $15.492 an ounce for their best finish since March 25. Silver prices gained 3.3% last week.
In other precious metals futures prices Monday:
July platinum edged up 70 cents, or nearly 0.1%, to $811.70 an ounce, ranging from $807.30 to $815.90.
- Palladium for September delivery surged $29, or 1.9%, to $1,528.60 an ounce, trading between $1,491.40 and $1,537.50.
Last week, platinum rose 0.8% and palladium jumped 2.6%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold added $8.55, or 0.6%, to $1,405.70 an ounce.
- Silver rose 8 cents, or 0.5%, to $15.37 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
In LBMA results last week, platinum lost 0.4% while the others registered gains totaling 3.4% for gold, 1.8% for silver, and 3.7% for platinum.
US Mint 2019 Bullion Sales
United States Mint bullion sales rose for the first time in over a week. Sales of American Silver Eagles moved up by 160,000 coins.
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)|
|Monday||Last Week||April||May||June||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||0||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||0||6,500||3,000||3,000||47,500|
|$1 American Eagle 1 Oz Silver Coin||160,000||0||1,196,000||866,000||710,000||9,697,000|
|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|