Precious metals futures, for the most part, changed little Monday. Gold and silver climbed on the day following two consecutive sessions of losses.
Gold for December delivery added $8.70, or 0.6%, to settle at $1,517.20 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold is thriving in the current environment of central bank easing, risk aversion, recession risks, low inflation and even a slightly softer dollar this month. It’s already soared back above $1,500 for the first time in more than six years and it’s not yet losing momentum," MarketWatch quoted Craig Erlam, senior market analyst at Oanda, in a note.
Gold futures ranged from a low of $1,498.60 to a high of $1,519.90. They gained 3.5% last week. On Wednesday, they ended at $1,519.60 an ounce for their highest settlement since April 11, 2013.
Silver for September delivery tacked on 14 cents, or 0.8%, to finish at $17.071 an ounce. Silver futures traded between $16.80 and $17.08. They jumped last week by 4.1%. On Wednesday, they settled at $17.196 an ounce for the best finish since June 14, 2018.
In other precious metals futures prices Monday:
October platinum shed a dime to $863.70 an ounce, ranging from $856.10 to $865.90.
- Palladium for September added $11.50, or 0.8%, to $1,430.80 an ounce, trading between $1,410.30 and $1,434.80.
Last week, platinum rose 1.3% and palladium gained 1.1%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold added $7, or 0.5%, to $1,504.70 an ounce.
- Silver lost 4.5 cents, or 0.3%, to $16.955 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
In LBMA results last week, gains reached 3.9% for gold, 5% for silver, 2.6% for platinum, and 2.2% for palladium.
US Mint 2019 Bullion Sales
United States Mint bullion sales increased by 2,000 ounces in American Gold Eagles and by 92,000 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)|
|Monday||Last Week||July||August||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||1,500||1,000||2,500||2,500||83,500|
|$25 American Eagle 1/2 Oz Gold Coin||1,000||0||3,000||1,000||23,000|
|$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||1,000||49,000|
|$1 American Eagle 1 Oz Silver Coin||92,000||0||1,240,000||92,000||11,354,000|
|War in the Pacific 5 Oz Silver Coin||0||0||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|
On the rise I find it always interesting when a new coin this week is to debut. The gold liberty. Gonna be like 2,000 to buy. Ridiculous!