The majority of precious metals futures traded lower in their kick off Monday to the U.S. holiday shortened week.
Gold for August delivery fell $24.40, or 1.7%, to settle at $1,389.30 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the weakest since June 19.
"The safe-haven metal has been deflated by weekend geopolitical events that have at least temporarily assuaged the world marketplace and in turn pushed global stock markets higher," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note.
Gold futures ranged from a low of $1,384.70 to a high of $1,401.90. They ended Friday with weekly, June and quarterly gains of 1%, 7.8%, and 8.9%, and also surged 10.3% in the first half of 2019. Last Tuesday, they closed at $1,418.70 an ounce for their highest settlement since Aug. 28, 2013.
Silver for September delivery declined 14.8 cents, or 1%, to settle at $15.193 an ounce. Silver futures traded between $15.15 and $15.35. They ended Friday with advances of 0.3% for the week, 5.3% for June, 1.5% for the second quarter, and a loss of 1.3% for the first half of the year.
In other precious metals futures prices on Monday:
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October platinum shed $3.90, or 0.5%, to $837.20 an ounce, ranging from $833.70 to $851.60.
- Palladium for September delivery added $7.10, or 0.5%, to $1,544.70 an ounce, trading between $1,523.40 and $1,550.70.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold declined $18.90, or 1.3%, to $1,390.10 an ounce.
- Silver rose 4 cents, or 0.3%, to $15.26 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 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 / July | Last Week | April | May | June | 2019 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 1,000 | 6,500 | 3,500 | 4,500 | 78,500 |
| $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 | 0 | 485,000 | 1,196,000 | 866,000 | 1,035,000 | 10,022,000 |
| 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 | |
