Most precious metals changed little Monday, the first trading day of the week and new month. Gold inched higher to another record, while also marking its eleventh gain in twelve sessions.
Gold for December delivery edged up 40 cents, or 0.02%, to a record settlement of $1,986.30 an ounce on the Comex division of the New York Mercantile Exchange.
"The dollar bounce has certainly taken the edge off gold, although not before it took another run at $2,000 early in the session," MarketWatch quoted Craig Erlam, senior market analyst at Oanda in a daily research report.
"This feels like a very natural place for gold to be experiencing some profit-taking after hitting a new record high last week but there’s nothing to suggest we’re going to see a larger pullback at this stage."
Gold futures ranged from a low of $1,981.20 to a high of $2,009.50. They surged 4.7% last week, ending 10.3% higher in July.
Silver for September rose 20.1 cents, or 0.8%, to settle at $24.417 an ounce. Silver futures traded between $24.16 and $25.28. They advanced 6% last week, registering a gain in July of 30%. Last Monday they closed at $24.501 an ounce for their best settlement since Aug. 27, 2013.
In other precious metals prices on Monday:
October platinum added $12.20, or 1.3%, to $931.10 an ounce, ranging from $913.40 to $937.90.
- Palladium for September delivery shed $5.80, or 0.3% to $2,139.50 an ounce, trading between $2,101.30 and $2,170.
Last month, platinum gained 8% and palladium climbed 9.1%.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold declined $6.35, or 0.3%, to $1,958.55 an ounce.
- Silver added 16 cents, or 0.7%, to $24.23 an ounce.
In LBMA results last week, prices climbed 3.3% for gold and 7.1% for silver while they declined 2.2% for platinum and 5.5% for palladium. For July, they rose 11.1% for gold, 34.9% for silver, 11.2% for platinum, and 8.4% for palladium.
US Mint Bullion Sales in 2020
U.S. Mint bullion sales were unchanged Monday. 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 / August||Last Week||May||June||July||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||37,000||5,500||42,500||107,500||435,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||6,000||2,000||4,000||45,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||12,000||2,000||10,000||64,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||10,000||0||0||35,000||210,000|
|$50 American Buffalo 1 Oz Gold Coin||0||7,500||2,500||7,500||22,000||148,000|
|$1 American Eagle 1 Oz Silver Coin||0||461,000||490,000||1,378,000||1,084,500||13,681,000|
|America Samoa 5 oz Silver Coin*||0||0||0||0||0||45,000|
|Weir Farm 5 oz Silver Coin*||0||0||0||0||0||45,000|
|Salt River Bay 5 oz Silver Coin*||0||0||0||0||0||45,000|
|Marsh Billings 5 oz Silver Coin*||0||0||0||0||45,000||45,000|
|$1 American Eagle 1 Oz Platinum Coin*||0||0||0||0||0||56,500|