The majority of precious metals futures traded lower in their kick off Monday to the U.S. holiday shortened week.
Gold for August delivery fell $24.40, or 1.7%, to settle at $1,389.30 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the weakest since June 19.
"The safe-haven metal has been deflated by weekend geopolitical events that have at least temporarily assuaged the world marketplace and in turn pushed global stock markets higher," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note.
Gold futures ranged from a low of $1,384.70 to a high of $1,401.90. They ended Friday with weekly, June and quarterly gains of 1%, 7.8%, and 8.9%, and also surged 10.3% in the first half of 2019. Last Tuesday, they closed at $1,418.70 an ounce for their highest settlement since Aug. 28, 2013.
Silver for September delivery declined 14.8 cents, or 1%, to settle at $15.193 an ounce. Silver futures traded between $15.15 and $15.35. They ended Friday with advances of 0.3% for the week, 5.3% for June, 1.5% for the second quarter, and a loss of 1.3% for the first half of the year.
In other precious metals futures prices on Monday:
October platinum shed $3.90, or 0.5%, to $837.20 an ounce, ranging from $833.70 to $851.60.
- Palladium for September delivery added $7.10, or 0.5%, to $1,544.70 an ounce, trading between $1,523.40 and $1,550.70.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold declined $18.90, or 1.3%, to $1,390.10 an ounce.
- Silver rose 4 cents, or 0.3%, to $15.26 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 Monday. 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 / July||Last Week||April||May||June||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||1,000||6,500||3,500||4,500||78,500|
|$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||0||485,000||1,196,000||866,000||1,035,000||10,022,000|
|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|