Three of four major precious metals futures advanced Tuesday, led by gold which climbed 1.4% after dropping 1.7% on Monday.
Gold for August delivery bounced $18.70 to settle at $1,408 an ounce on the Comex division of the New York Mercantile Exchange.
"There is a continuity to buying the big dips, selling the big rallies as we also continue to stay in the new higher trading range [of] $1,385-$1,450," said George Gero, managing director at RBC Wealth Management, in a daily note according to MarketWatch. "Longer term, gold is still reacting to coming inflation. Most countries worry about a global slowdown, and lower rates continue in at least 22 countries. All this means most central banks are in favor of continued easing as well."
Gold futures ranged from a low of $1,386.20 to a high of $1,410.80. Last Tuesday, they closed at $1,418.70 an ounce for their highest settlement since Aug. 28, 2013.
Silver for September delivery rose 4.5 cents, or 0.3%, to settle at $15.238 an ounce. Silver futures traded between $15.07 and $15.29. They declined 1% on Monday.
In other precious metals futures Tuesday:
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October platinum gave back $3.70, or 0.4%, to $833.50 an ounce, ranging from $828.30 to $843.30.
- Palladium for September delivery added $8.10, or 0.5%, to $1,552.80 an ounce, trading between $1,535 and $1,554.90.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold edged up 95 cents, or less than 0.1%, to $1,391.05 an ounce.
- Silver declined 9 cents, or 0.6%, to $15.17 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. 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) | ||||||
|---|---|---|---|---|---|---|
| Tuesday / 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 | |
