Precious Metals Decline Monday, Aug. 24

by CoinNews.net on August 24, 2020 · 0 comments

999.9 Fine Gold Bullion

Gold futures dipped 0.4% on Monday, August 24

Precious metals futures fell slightly Monday. Their losses ranged from 0.2% for platinum to 0.7% for palladium.

Gold for December delivery declined $7.80, or 0.4%, to settle at $1,939.20 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is just consolidating right now with stock indexes at record highs. It really needs a bigger catalyst, it needs additional fiscal stimulus, it needs inflation to pick up, in order to get really going," Reuters quoted Phillip Streible, chief market strategist at Blue Line Futures in Chicago.

Gold futures ranged from a low of $1,934.20 to a high of $1,970.30. They shed 0.1% last week. Earlier this month, on Aug. 6, gold marked a record settlement of $2,069.40 an ounce.

Silver for September delivery settled down 12.5 cents, or 0.5%, to $26.607 an ounce. Silver futures traded between $26.33 and $27.34. They advanced 2.5% last week.

In other precious metals futures prices on Monday:

  • October platinum fell $1.60 to $924.50 an ounce, ranging from $920.20 to $947.80.

  • Palladium for September delivery declined $14.80 to $2,165.50 an ounce, trading between $2,152.20 and $2,203.60.

Last week platinum dropped 3.4% and palladium gained 1.7%.

London Precious Metals Prices (LBMA)

In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:

  • Gold added $19.60, or 1%, to $1,943.95 an ounce.
  • Silver moved up 3.5 cents, or 0.1%, to $26.885 an ounce.

In LBMA results last, gold declined 1.1%, silver rose 0.5%, fell lost 5.5% and palladium added 2.1%.

US Mint Bullion Sales in 2020

United States 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 Last Week June July August 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 16,500 42,500 107,500 86,000 521,000
$25 American Eagle 1/2 Oz Gold Coin 0 6,000 2,000 4,000 6,000 51,000
$10 American Eagle 1/4 Oz Gold Coin 0 12,000 2,000 10,000 12,000 76,000
$5 American Eagle 1/10 Oz Gold Coin 0 30,000 0 35,000 30,000 240,000
$50 American Buffalo 1 Oz Gold Coin 0 4,000 7,500 30,000 22,500 178,500
$1 American Eagle 1 Oz Silver Coin 0 1,000,000 1,398,000 1,084,500 2,593,000 16,294,000
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 45,000 0 45,000
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 56,500

 

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