Precious metals futures logged little changes Tuesday with gold and palladium rising modestly and silver and platinum falling slightly. Gold’s gain was its fourth straight. It settled at a fresh, nearly six-year high.
Gold for August delivery inched up 50 cents, or less than 0.1%, to close at $1,418.70 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.
Overall, gold has seen an "extraordinary march higher as global economic worries, political worries and U.S. politics underpin many bids from buyers, in many countries, as opportunity costs for buying gold have also lowered buyers’ resistance," MarketWatch quoted George Gero, managing director at RBC Wealth Management.
Gold futures ranged from a low of $1,415.10 to a high of $1,442.90. They gained 1.3% on Monday.
Silver for July delivery shed 7.7 cents, or 0.5%, to settle at $15.30 an ounce. Silver futures traded between $15.25 and $15.51. They rose 0.6% on Monday. On Thursday, they settled at $15.492 an ounce for their best close since March 25.
In other precious metals futures Tuesday:
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July platinum dipped $1.90, or 0.2%, to $809.80 an ounce, ranging from $806.60 to $820.40.
- Palladium for September delivery rose $3.90, or 0.3%, to $1,532.50 an ounce, trading between $1,501.20 and $1,542.30.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold surged $25.70, or 1.8%, to $1,431.40 an ounce.
- Silver rose 3 cents, or 0.2%, to $15.40 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint 2019 Bullion Sales
United States Mint bullion sales rose for a second straight day after having been muted for over a week. On Tuesday, sales of American Silver Eagles climbed by 145,000 coins for a week to date total of 305,000 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) | |||||||
|---|---|---|---|---|---|---|---|
| Tuesday | Last Week | This Week | April | May | June | 2019 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 0 | 6,500 | 3,500 | 3,500 | 77,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 1,000 | 0 | 0 | 19,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 2,000 | 0 | 0 | 26,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 25,000 | 5,000 | 5,000 | 145,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 0 | 6,500 | 3,000 | 3,000 | 47,500 |
| $1 American Eagle 1 Oz Silver Coin | 145,000 | 0 | 305,000 | 1,196,000 | 866,000 | 855,000 | 9,842,000 |
| American Memorial Park 5 Oz Silver Coin | 0 | 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 | ||
Will it settle at about $1350, continue to rise, or drop back to the $1200 range? I’ve said I would sell mine if/when it reaches $1500.