Precious metals futures declined in kicking off the new trading week, aside from silver which gained 0.3%. Gold pressed its losing streak to three in row.
Gold for December delivery lost $4.40, or 0.3%, to settle at $1,511.10 an ounce on the Comex division of the New York Mercantile Exchange.
“The main trend remains positive, even though prices are now playing with the psychological level of $1,500 and there could be space for a further correction to around $1,475, without affecting the main bullish trend,” Carlo Alberto De Casa, chief analyst at brokerage ActivTrades, said a daily research note according to MarketWatch.
Gold futures ranged from a low of $1,505.50 to a high of $1,523.80. They declined last week by 0.9%. On Wednesday, they closed at $1,560.40 an ounce for their highest settlement since April 11, 2013.
Silver for December delivery added 4.8 cents to finish at $18.167 an ounce. Silver futures traded between $18.01 and $18.40. They slipped 1.2% last week. On Wednesday, silver ended at $19.547 an ounce for its best settlement since Sept. 26, 2016.
In other precious metals futures prices Monday:
October platinum shed $5.80, or 0.6%, to $952.70 an ounce, ranging from $945.30 to $965.
Palladium for December delivery fell $7.90, or 0.5%, to $1,536.80 an ounce, trading between $1,518.60 and $1,557.60.
Last week, platinum gained 2.9% and palladium rose 0.4%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold declined $14.50, or 1%, to $1,509.20 an ounce.
- Silver rose 2.5 cents, or 0.1%, to $18.17 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
In LBMA results last week, prices climbed 0.9% for platinum while falling 0.3% for gold, 1.3% for silver, and 0.1% for palladium.
US Mint 2019 Bullion Sales
United States Mint bullion sales advanced by a 1,000 ounces in American Gold Eagles and by a combined 454,500 ounces in silver coins.
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||August||September||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||1,000||1,500||6,500||2,500||89,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||1,000||0||23,000|
|$10 American Eagle 1/4 Oz Gold Coin**||0||0||0||0||28,000|
|$5 American Eagle 1/10 Oz Gold Coin***||0||5,000||0||10,000||170,000|
|$50 American Buffalo 1 Oz Gold Coin||0||500||1,500||500||50,000|
|$1 American Eagle 1 Oz Silver Coin||442,000||11,000||1,007,000||453,000||12,722,000|
|War in the Pacific 5 Oz Silver Coin||2,500||0||12,500||2,500||72,000|
|American Memorial Park 5 Oz Silver Coin*||0||0||2,000||0||80,000|
|Lowell 5 Oz Silver Coin*||N/A||80,000|
|$100 American Eagle 1 Oz Platinum Coin*||N/A||40,000|
**U.S. Mint figures on Monday showed and August adjustment for 1/4oz American Gold Eagles of -2,000 ounces to zero, pulling their year-to-date total down to 28,000.
***U.S. Mint figures also indicated an adjustment for 1/10oz American Gold Eagles of -5,000 ounces in August to zero and +5,000 ounces in September to 10,000 ounces.