Silver Scores 2-Year High, Gold Logs Almost 1-Month High

bullionPrecious metals futures kicked off the new trading week and month on Monday with gains ranging from 0.2% for gold to 1.1% for platinum. Silver rallied to a two-year high while gold ended at an almost one-month high.

Gold for December delivery rose $2.10 to settle at $1,359.60 an ounce on the Comex division of the New York Mercantile Exchange. The close is the highest since July 7 when the yellow metal ended at $1,362.10 an ounce.

“Gold needs to break through $1,380 to race higher, but silver is moving 5+ % when gold is moving 1.4%,” MarketWatch quoted Julian Phillips, founder and contributor to GoldForecaster.com.

Gold futures traded from a low of $1,353.20 to a high of $1,361.90. They climbed 2.6% last week, gaining 2.8% in July.

Silver for September delivery tacked on 15.3 cents, or 0.8%, to close at $20.50 an ounce. The settlement is the highest since July 30, 2014 when prices ended at $20.60 an ounce. Silver futures ranged from $20.33 to $20.70. They advanced 3.3% last week and logged a monthly increase of 9.3%. With their gains on Monday, they are 48.5% higher on the year to date.

In other precious metals dealings on Monday:

  • October platinum settled up $12.70 to $1,163.30 an ounce, trading between $1,149.70 and $1,168.
  • Palladium for September delivery tacked on $6.50, or 0.9%, to $716.25 an ounce, ranging from $706 to $724.55.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:

  • Gold added $7.65, or 0.6%, to $1,349.65 an ounce.
  • Silver jumped 52 cents, or 2.6%, to $20.51 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint Bullion Coin Sales in 2016

United States Mint bullion sales were unchanged Monday, following weaker levels in July. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold during varying periods of time. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Monday / August Sales Last Week June Sales July Sales 2016 Sales
$100 American Eagle 1 Oz Platinum Coins 0 19,000 N/A 19,000 19,000
$50 American Eagle 1 Oz Gold Coins 0 7,500 62,500 30,000 436,000
$25 American Eagle 1/2 Oz Gold Coins 0 0 3,000 2,000 48,000
$10 American Eagle 1/4 Oz Gold Coins 0 2,000 10,000 10,000 96,000
$5 American Eagle 1/10 Oz Gold Coins 0 25,000 70,000 50,000 555,000
$50 American Buffalo 1 Oz Gold Coins 0 2,000 14,500 10,000 122,500
$1 American Eagle 1 Oz Silver Coins 0 175,000 2,837,500 1,370,000 27,620,500
2016 Shawnee 5 Oz Silver Coins* 0 0 0 0 105,000
2016 Cumberland Gap 5 Oz Silver Coins* 0 0 0 0 75,000
2016 Harpers Ferry 5 Oz Silver Coins 0 0 34,200 0 34,200

 

* This article was retrieved from CoinNews.Net.

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