Gold and Silver Decline Tuesday, Aug. 25

by CoinNews.net on August 25, 2020 · 0 comments

Shelves of gold bullion bars

Gold futures shed 0.8% on Tuesday, August 25

Precious metals split Tuesday with platinum and palladium posting gains and gold and silver registering losses.

Gold for December delivery declined $16.10, or 0.8%, to settle at $1,923.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Profit taking and selling from weak-handed long positions in the futures markets are featured today, amid upbeat trader and investor attitudes," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,919.10 to a high of $1,944.10. They shed 0.4% on Monday. Earlier this month, on Aug. 6, gold marked a record settlement of $2,069.40 an ounce.

Silver for September delivery fell 33.4 cents, or 1.3%, to close at $26.273 an ounce. Silver futures traded between $26.13 and $26.86. They slipped 0.5% on Monday.

In other precious metals futures Tuesday:

  • October platinum rose $9.50, or 1%, to $934 an ounce, ranging from $923.50 to $947.70.

  • Palladium for September delivery gained $6.40, or 0.3%, to $2,171.90 an ounce, trading between $2,133.40 and $2,201.68.

London Precious Metals Prices (LBMA)

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

  • Gold dropped $32.80, or 1.7%, to $1,911.15 an ounce.
  • Silver fell 39 cents, or 1.5%, to $26.495 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales were unchanged Tuesday. 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)
Tuesday / This Week 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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