Precious metals futures divided Tuesday with gold and silver rising and platinum and palladium falling. Gold closed at its best price in more than six years.
Gold for August delivery tacked on $9.30, or 0.7%, to settle at $1,429.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since May 13, 2013 when the yellow metal ended at $1,434.30 an ounce.
"The market is anticipating a cut at the Federal Open Market Committee (FOMC) meeting tomorrow, but what is up in the air is the extent of the dovish or hawkish comments," Reuters quoted Daniel Ghali, commodity strategist at TD Securities.
Gold futures ranged from a low of $1,422.10 to a high of $1,431.10. They climbed 0.08% on Monday.
Silver for September delivery added 11.8 cents, or 0.7%, to settle at $16.558 an ounce. Silver futures traded between $16.42 and $16.55. They gained 0.3% on Monday. Last Wednesday, they ended at $16.626 an ounce for their best close since June 14, 2018.
In other precious metals futures prices on Tuesday:
October platinum declined $9.30, or 1.1%, to $872.60 an ounce, ranging from $871.80 to $886.50.
- Palladium for September sank $44.70, or 2.9%, to $1,509.10 an ounce, trading between $1,505.20 and $1,554.70.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold rose $6.85, or 0.5%, to $1,425.90 an ounce.
- Silver added 6.5 cents, or 0.4%, to $16.455 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 advanced by a combined 1,000 ounces in gold coins and 1.025 million ounces in silver coins.
A portion of the silver sales included the third 2019-dated America the Beautiful Five Ounce Silver Bullion Coin. Emblematic of War in the Pacific National Historical Park in Guam – just like the companion quarter, its first-reported sales reached 57,000 coins for 285,000 ounces.
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||1,000||500||4,500||2,000||80,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||2,000||21,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||2,000||28,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||5,000||15,000||160,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||3,000||500||48,000|
|$1 American Eagle 1 Oz Silver Coin||740,000||147,000||1,035,000||1,224,000||11,246,000|
|War in the Pacific 5 Oz Silver Coin||57,000||N/A||57,000||57,000|
|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|