Precious metals were mixed Tuesday with silver falling and the others rising. Gold ended the first day of August at an almost eight-week high.
Gold for December delivery settled up $6, or 0.5%, to $1,279.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since June 8.
"A weaker U.S. dollar continues to help precious metals to shine," Reuters quoted Jeffrey Halley, a senior market analyst at OANDA. "To this, we can add U.S./Russia relations, North Korea, Venezuela and the revolving door at the White House to the mix, all of which will also be supportive of gold as a safe haven.
Gold futures ranged from a low of $1,268.40 to a high of $1,280.30. They shed 0.1% on Monday, posting a July increase of 2.5%.
Silver for September delivery declined 2.2 cents, or 0.1%, to settle at $16.764 an ounce. Silver futures traded between $16.59 and $16.85. They climbed 0.6% in the previous session, logging an advance in July of 1% and closing at their highest level since June 14.
In other precious metals futures prices on Tuesday:
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October platinum added $8.80, or 0.9%, to $949.50 an ounce, ranging from $940.80 and $950.80.
- Ending higher for a seventh straight session, palladium for September delivery added $8, or 0.9%, to $893.40 an ounce. Prices traded between $881.55 and $899.35.
Last month, platinum rose 1.5% and palladium surged 5.8%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold gained $3.40, or 0.3%, to 1,270.95 an ounce.
- Silver dipped 2 cents, or 0.1%, to $16.74 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
In July, London bullion price advances totaled 2% for gold, 1.8% for silver, 1.7% for platinum and 6.3% for palladium.
US Mint Bullion Sales in 2017
United States Mint bullion sales were unchanged Tuesday. Below is a sales breakdown of U.S. 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 / Aug | Last Week | This Week | June | July | YTD | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 20,000 |
| $50 American Eagle 1 Oz Gold Coin | 0 | 500 | 1,000 | 4,000 | 12,500 | 154,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 0 | 0 | 27,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 0 | 4,000 | 52,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 20,000 | 30,000 | 290,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 500 | 1,500 | 2,000 | 5,000 | 71,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 205,000 | 50,000 | 986,000 | 2,270,000 | 14,503,500 |
| 2017 Effigy Mounds 5 Oz Silver Coin | 0 | 0 | 0 | 8,800 | 0 | 35,000 |
| 2017 Frederick Douglass 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 20,000 |
| 2017 Ozark Riverways 5 Oz Silver Coin | 0 | 0 | 0 | 20,000 | 0 | 20,000 |
