Gold futures were near unchanged in their debut to the first full trading week of July. Elsewhere, silver and platinum gained while palladium declined.
Gold for August delivery edged a dime lower to settle at $1,400 an ounce on the Comex division of the New York Mercantile Exchange.
"With the strong jobs report the bets on 50 basis point rate cuts have dropped from almost 30% to 2%. The fact is that the runaway projections of interest rate declines are not going to happen and that’s what is hurting gold," INTL FCStone analyst Edward Meir said according to Reuters.
On Friday, the Labor Department said the U.S. economy added 224,400 jobs in June, for the strongest monthly increase since January.
Gold futures ranged from a low of $1,395 to a high of $1,409.90. They declined 1% last week. On Wednesday, the precious metal finished at $1,420.90 an ounce for its best settlement since May 14, 2013.
Silver for September delivery rose 4.9 cents, or 0.3%, to settle at $15.05 an ounce. Silver futures traded between $14.98 and $15.15. They fell 2.2% last week.
In other precious metals futures prices Monday:
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October platinum added $9, or 1.1%, to $820.40 an ounce, ranging from $811.10 to $823.90.
- Palladium for September delivery shed $6, or 0.4%, to $1,558.20 an ounce, trading between $1,552 and $1,569.60. On Wednesday, palladium notched a record settlement at $1,565.80 an ounce.
Last week, platinum declined 3.5% and palladium gained 1.7%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold added $11.45, or 0.8%, to $1,400.10 an ounce.
- Silver fell 14 cents, or 0.9%, to $15.07 an ounce.
In LBMA results last week, gold and silver registered respective losses reaching 1.4% for gold and 0.1% for silver.
US Mint 2019 Bullion Sales
United States Mint bullion sales logged their first increases of the month with American Gold Eagles advancing by a combined 1,500 ounces and American Silver Eagles rising by 165,000 ounces.
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 | 0 | 6,500 | 3,500 | 4,500 | 78,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 1,000 | 0 | 1,000 | 0 | 0 | 20,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 2,000 | 0 | 2,000 | 0 | 0 | 28,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 5,000 | 0 | 25,000 | 5,000 | 5,000 | 150,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 6,500 | 3,000 | 3,000 | 47,500 |
| $1 American Eagle 1 Oz Silver Coin | 165,000 | 0 | 1,196,000 | 866,000 | 1,035,000 | 10,187,000 |
| 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 | |
