Precious metals futures lacked major movement Monday. Gold finished lower for a third straight session but was down just 0.1%.
Gold for December delivery — the new, most active contract — shed $1.20 to settle at $1,231.50 an ounce on the Comex division of the New York Mercantile Exchange.
"The gold and silver markets remain in the grips of the chart-based bears, and with no major fundamental news to drive the metals at present, prices will likely continue to drift sideways to lower," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The safe-haven metals bulls need a jolt of fresh, major news on the geopolitical front to create some new uncertainties."
Gold futures ranged from a low of $1,227.80 to a high of $1,234.10. They declined 0.7% last week — their third weekly loss in a row, with the then most active August contract on Friday marking gold’s weakest close since July 13, 2017.
Silver for September moved up 4.4 cents, or 0.3%, to $15.537 an ounce. Silver futures traded between $15.41 and $15.57. They slipped 0.4% last week for their seventh straight weekly decline.
In other precious metals futures on Monday:
-
October platinum inched down 20 cents to $831.50 an ounce, ranging from $824.30 to $834.50.
- Palladium for September delivery added $4, or 0.4%, to $922.50 an ounce, trading between $916.90 and $929.10.
Last week, platinum rose 0.3% and palladium jumped 3.3%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold dipped 16 cents, or less than 0.1%, to 1,223.80 an ounce.
- Silver gained 13.5 cents, or 0.9%, to $15.49 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
In LBMA results last week, prices for platinum and palladium rose 0.6% and 4.3% while those for gold and silver declined 0.4% and 0.1%.
US Mint Bullion Sales in 2018
United States Mint bullion sales rose by 100,000 ounces in American Silver Eagles and a combined 7,500 ounces in American Eagle and Buffalo gold coins.
Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.
| US Mint Bullion Sales (# of coins) | |||||
|---|---|---|---|---|---|
| Monday | Last Week | June | July | 2018 Sales | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 30,000 |
| $50 American Eagle 1 Oz Gold Coin | 1,500 | 6,500 | 21,500 | 31,500 | 119,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 1,000 | 1,000 | 18,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 4,000 | 2,000 | 50,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 15,000 | 25,000 | 150,000 |
| $50 American Buffalo 1 Oz Gold Coin | 6,000 | 0 | 6,500 | 24,500 | 78,000 |
| $1 American Eagle 1 Oz Silver Coin | 100,000 | 240,000 | 435,000 | 885,000 | 7,707,500 |
| Pictured Rocks 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 30,000 |
| Apostle Islands 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 30,000 |
| Voyageurs 5 Oz Silver Coin | 0 | 0 | 30,000 | 0 | 30,000 |
