Precious metals futures registered gains on Monday that ranged from 0.6% for platinum to 1.3% for gold. Gold’s close was its best in nearly 6.3 years.
Gold for December delivery tacked on $19 to finish at $1,476.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since April 12, 2013 when gold ended at $1,501.40 an ounce.
"The yellow metal is on the verge of a making for a run towards the $1,500 an ounce level and after that there is not much resistance until the $1,650 region," MarketWatch quoted Edward Moya, senior market analyst at Oanda. "The trade war, a negative global interest-rate environment and weak corporate earnings are all positive catalysts for the remainder of the summer for gold."
Gold futures ranged from a low of $1,448.80 to a high of $1,481.80. They gained 2.7% last week.
Silver for September delivery rose 12.3 cents, or 0.8%, to settle at $16.393 an ounce. Silver futures traded between $16.13 and $16.59. They declined 0.8% last week after three straight weekly gains that had lifted prices by a combined $1.40 or 9.3%. As recently as Wednesday, July 24, they ended at $16.626 an ounce for their strongest close since June 14, 2018.
In other precious metals futures prices Monday:
October platinum added $4.90 to $857.90 an ounce, ranging from $845.70 to $863.50.
- Palladium for September added $12.10, or 0.9%, to $1,416.30 an ounce, trading between $1,390 and $1,448.
Last week, platinum fell 1.7% and palladium sank 8.3%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold advanced $23.50, or 1.6%, to $1,465.25 an ounce.
- Silver rose 29 cents, or 1.8%, to $16.485 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
In LBMA results last week, gold added 1.5% while silver fell 1.5%, platinum lost 2.8% and palladium dropped 5.2%.
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)|
|Monday||Last Week||July||August||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||1,500||2,500||0||81,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||3,000||0||22,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||0||28,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||15,000||0||160,000|
|$50 American Buffalo 1 Oz Gold Coin||0||500||500||500||48,500|
|$1 American Eagle 1 Oz Silver Coin||0||756,000||1,240,000||0||11,262,000|
|War in the Pacific 5 Oz Silver Coin||0||65,000||57,000||8,000||65,000|
|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|