Precious metals futures finished mixed Tuesday with silver and platinum closing higher and gold and palladium ending lower. Silver scored its best settlement in twenty weeks.
Gold for August delivery declined $2.30, or 0.2%, to settle at $1,411.20 an ounce on the Comex division of the New York Mercantile Exchange.
"The daily chart for gold still shows a ‘collapse in volatility’, whereby the past three sessions have seen significantly quieter price action. This suggests that a bigger price move is right on the horizon, probably yet this week," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Given that the daily gold chart remains bullish, odds favor that bigger price move being to the upside."
Gold futures ranged from a low of $1,403.70 to a high of $1,420. They rose nearly 0.1% on Monday, ending at their best point since July 3.
Scoring their sixth gain in seven sessions, silver for September delivery surged 31.3 cents, or 2%, to settle at $15.678 an ounce. The settlement was the highest since Feb. 27. Silver futures traded between $15.34 and $15.74. They gained 0.9% on Monday.
In other precious metals futures Tuesday:
October platinum rose $1.70, or 0.2%, to $846.90 an ounce, ranging from $840.40 to $855.30.
- Palladium for September delivery sank $46.60, or 3%, to $1,516.30 an ounce, trading between $1,502.50 and $1,564.80. Last Wednesday, palladium notched a record settlement of $1,588.10 an ounce.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold declined $2.55, or 0.2%, to $1,409.85 an ounce.
- Silver added 7.5 cents, or 0.5%, to $15.395 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 coins registered their first increase this week with sales rising by 75,000 ounces in American Silver Eagles.
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||June||July||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||0||4,500||0||78,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||0||1,000||20,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||0||2,000||28,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||5,000||5,000||150,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||3,000||0||47,500|
|$1 American Eagle 1 Oz Silver Coin||75,000||262,000||1,035,000||337,000||10,359,000|
|American Memorial Park 5 Oz Silver Coin||0||0||0||0||78,000|
|Lowell 5 Oz Silver Coin*||N/A||80,000|
|$100 American Eagle 1 Oz Platinum Coin*||N/A||40,000|