Precious metals futures, for the most part, changed little Monday. Gold and silver climbed on the day following two consecutive sessions of losses.
Gold for December delivery added $8.70, or 0.6%, to settle at $1,517.20 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold is thriving in the current environment of central bank easing, risk aversion, recession risks, low inflation and even a slightly softer dollar this month. It’s already soared back above $1,500 for the first time in more than six years and it’s not yet losing momentum," MarketWatch quoted Craig Erlam, senior market analyst at Oanda, in a note.
Gold futures ranged from a low of $1,498.60 to a high of $1,519.90. They gained 3.5% last week. On Wednesday, they ended at $1,519.60 an ounce for their highest settlement since April 11, 2013.
Silver for September delivery tacked on 14 cents, or 0.8%, to finish at $17.071 an ounce. Silver futures traded between $16.80 and $17.08. They jumped last week by 4.1%. On Wednesday, they settled at $17.196 an ounce for the best finish since June 14, 2018.
In other precious metals futures prices Monday:
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October platinum shed a dime to $863.70 an ounce, ranging from $856.10 to $865.90.
- Palladium for September added $11.50, or 0.8%, to $1,430.80 an ounce, trading between $1,410.30 and $1,434.80.
Last week, platinum rose 1.3% and palladium gained 1.1%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold added $7, or 0.5%, to $1,504.70 an ounce.
- Silver lost 4.5 cents, or 0.3%, to $16.955 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
In LBMA results last week, gains reached 3.9% for gold, 5% for silver, 2.6% for platinum, and 2.2% for palladium.
US Mint 2019 Bullion Sales
United States Mint bullion sales increased by 2,000 ounces in American Gold Eagles and by 92,000 ounces in American Silver Eagles.
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 | 1,500 | 1,000 | 2,500 | 2,500 | 83,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 1,000 | 0 | 3,000 | 1,000 | 23,000 |
| $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 | 1,000 | 49,000 |
| $1 American Eagle 1 Oz Silver Coin | 92,000 | 0 | 1,240,000 | 92,000 | 11,354,000 |
| War in the Pacific 5 Oz Silver Coin | 0 | 0 | 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 | |||
On the rise I find it always interesting when a new coin this week is to debut. The gold liberty. Gonna be like 2,000 to buy. Ridiculous!