Gold futures extended their bullish advances Monday, securing a third straight increase and another almost six-year high.
Gold for August delivery tacked on $18.10, or 1.3%, to settle at $1,418.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Aug. 28, 2013 when gold ended at $1,418.80 an ounce.
"Safe-haven demand amid heightened geopolitical events is keeping gold prices on the rise. So is a slumping U.S. dollar index that hit a three-month low today," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "And while we’re at it, let’s add to the bullish mix recent easy-leaning monetary policies of the world’s major central banks and the bullish technical chart posture for the yellow metal."
Gold futures ranged from a low of $1,403.60 to a high of $1,421. They rallied 4.1% last week.
Meanwhile, silver for July delivery rose 8.7 cents, or 0.6%, to close at $15.377 an ounce. Silver futures traded between $15.28 and $15.46. They gained 3.3% last week. On Thursday, they settled at $15.492 an ounce for their best finish since March 25. Silver prices gained 3.3% last week.
In other precious metals futures prices Monday:
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July platinum edged up 70 cents, or nearly 0.1%, to $811.70 an ounce, ranging from $807.30 to $815.90.
- Palladium for September delivery surged $29, or 1.9%, to $1,528.60 an ounce, trading between $1,491.40 and $1,537.50.
Last week, platinum rose 0.8% and palladium jumped 2.6%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold added $8.55, or 0.6%, to $1,405.70 an ounce.
- Silver rose 8 cents, or 0.5%, to $15.37 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
In LBMA results last week, platinum lost 0.4% while the others registered gains totaling 3.4% for gold, 1.8% for silver, and 3.7% for platinum.
US Mint 2019 Bullion Sales
United States Mint bullion sales rose for the first time in over a week. Sales of American Silver Eagles moved up by 160,000 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 | April | May | June | 2019 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 6,500 | 3,500 | 3,500 | 77,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 1,000 | 0 | 0 | 19,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 2,000 | 0 | 0 | 26,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 25,000 | 5,000 | 5,000 | 145,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 6,500 | 3,000 | 3,000 | 47,500 |
| $1 American Eagle 1 Oz Silver Coin | 160,000 | 0 | 1,196,000 | 866,000 | 710,000 | 9,697,000 |
| American Memorial Park 5 Oz Silver Coin | 0 | 0 | N/A | 78,000 | 0 | 78,000 |
| Lowell 5 Oz Silver Coin* | N/A | 80,000 | ||||
| $100 American Eagle 1 Oz Platinum Coin* | N/A | 6,500 | N/A | 0 | 40,000 | |
