Precious metals futures registered gains on Monday that ranged from 0.6% for platinum to 1.3% for gold. Gold’s close was its best in nearly 6.3 years.
Gold for December delivery tacked on $19 to finish at $1,476.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since April 12, 2013 when gold ended at $1,501.40 an ounce.
"The yellow metal is on the verge of a making for a run towards the $1,500 an ounce level and after that there is not much resistance until the $1,650 region," MarketWatch quoted Edward Moya, senior market analyst at Oanda. "The trade war, a negative global interest-rate environment and weak corporate earnings are all positive catalysts for the remainder of the summer for gold."
Gold futures ranged from a low of $1,448.80 to a high of $1,481.80. They gained 2.7% last week.
Silver for September delivery rose 12.3 cents, or 0.8%, to settle at $16.393 an ounce. Silver futures traded between $16.13 and $16.59. They declined 0.8% last week after three straight weekly gains that had lifted prices by a combined $1.40 or 9.3%. As recently as Wednesday, July 24, they ended at $16.626 an ounce for their strongest close since June 14, 2018.
In other precious metals futures prices Monday:
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October platinum added $4.90 to $857.90 an ounce, ranging from $845.70 to $863.50.
- Palladium for September added $12.10, or 0.9%, to $1,416.30 an ounce, trading between $1,390 and $1,448.
Last week, platinum fell 1.7% and palladium sank 8.3%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold advanced $23.50, or 1.6%, to $1,465.25 an ounce.
- Silver rose 29 cents, or 1.8%, to $16.485 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
In LBMA results last week, gold added 1.5% while silver fell 1.5%, platinum lost 2.8% and palladium dropped 5.2%.
US Mint 2019 Bullion Sales
United States Mint bullion sales were unchanged. 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 | July | August | 2019 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 1,500 | 2,500 | 0 | 81,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 3,000 | 0 | 22,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 2,000 | 0 | 28,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 15,000 | 0 | 160,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 500 | 500 | 500 | 48,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 756,000 | 1,240,000 | 0 | 11,262,000 |
| War in the Pacific 5 Oz Silver Coin | 0 | 65,000 | 57,000 | 8,000 | 65,000 |
| American Memorial Park 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 78,000 |
| Lowell 5 Oz Silver Coin* | N/A | 80,000 | |||
| $100 American Eagle 1 Oz Platinum Coin* | N/A | 40,000 | |||
