Gold Ends Near Two-Week Low On Thursday, Aug. 22

by CoinNews.net on August 22, 2019 · 0 comments

Gold bullion bar and US coins

Gold eased 0.5% on Thursday, Aug. 22

Gold and silver futures posted losses Thursday while platinum and palladium scored gains. Gold finished at a nearly two-week low.

Gold for December delivery declined $7.20, or 0.5%, to settle at $1,508.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Aug. 9.

"Some not-so-dovish comments from U.S. Federal Reserve officials heading into the annual Jackson Hole, Wyoming Federal Reserve symposium that began today had the precious metals traders in a selling mood," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

Gold futures ranged from a low of $1,502.10 to a high of $1,514.60. They ended unchanged on Wednesday, rose 0.3% on Tuesday, and slipped 0.8% on Monday. Last Thursday, they finished at $1,531.20 an ounce for their strongest settlement since April 11, 2013.

Silver for September delivery lost 11.1 cents, or 0.7%, to close at $17.04 an ounce. Silver futures traded between $16.91 and $17.13. They gained less than a half cent on Wednesday, rose 1.2% on Tuesday, and declined 0.3% on Monday. As recently as a week ago Wednesday, Aug. 14, they closed at $17.28 an ounce for their highest settlement since ending at $17.441 an ounce on Jan. 26, 2018.

In other futures Thursday:

  • October platinum added $3.80, or 0.4%, to $861.90 an ounce, ranging from $848.10 to $863.40.

  • Palladium for September advanced $19.70, or 1.3%, to $1,485.20 an ounce, trading between $1,452.60 and $1,486.70.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:

  • Gold declined $1.20, or 0.08%, to $1,502.05 an ounce.
  • Silver fell 15 cents, or 0.9%, to $16.96 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. 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)
Thursday Last Week This Week July August 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 1,500 2,500 2,500 5,000 86,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 3,000 1,000 23,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 0 28,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 15,000 0 160,000
$50 American Buffalo 1 Oz Gold Coin 0 0 0 500 1,000 49,000
$1 American Eagle 1 Oz Silver Coin 0 222,000 647,000 1,240,000 869,000 12,131,000
War in the Pacific 5 Oz Silver Coin 0 0 4,500 57,000 12,500 69,500
American Memorial Park 5 Oz Silver Coin* 0 0 2,000 0 2,000 80,000
Lowell 5 Oz Silver Coin* N/A 80,000
$100 American Eagle 1 Oz Platinum Coin* N/A 40,000

 

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