Precious Metals Rebound Ahead of Fourth of July Break

Partial Photo of Bullion Gold

Precious metals futures posted gains on Tuesday, July 3, ranging from 0.4% for palladium to 4% for platinum

Precious metals futures jumped Tuesday ahead of the U.S. Independence Day holiday break on Wednesday and after diving in their start to the week on Monday.

Gold for August delivery tacked on $11.80, or 1%, to settle at $1,253.50 an ounce on the Comex division of the New York Mercantile Exchange.

“If the gold and silver markets can add to their Tuesday gains the rest of this week and close near their weekly highs on Friday, such would be a bullish clue that these metals have put in near-term market bottoms,” Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

Gold futures ranged from a low of $1,238.80 to a high of $1,258.50. They lost 1% on Monday, ending at their lowest price since Dec. 12.

Meanwhile, silver for September delivery gained 20.8 cents, or 1.3%, to settle at $16.043 an ounce. Silver futures traded between $15.81 and $16.09. They tumbled 2.2% on Monday.

In other precious metals futures on Tuesday:

  • October platinum surged $32.90, or 4%, to $846.30 an ounce, ranging from $800.70 to $849.30.

  • Palladium for September delivery rose $3.60, or 0.4%, to $938 an ounce, trading between $934.40 and $948.

London Precious Metals Prices

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

  • Gold added $3.95 or 0.3%, to 1,251.75 an ounce.
  • Silver shed 5 cents, or 0.3%, to $15.93 an ounce.

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

US Mint Bullion Sales in 2018

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.

US Mint Bullion Sales (# of coins)
Tuesday / Week / July Last Week May June 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 10,000 0 30,000
$50 American Eagle 1 Oz Gold Coin 0 5,500 18,500 16,500 82,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 17,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 18,000 4,000 48,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 10,000 15,000 125,000
$50 American Buffalo 1 Oz Gold Coin 0 0 16,500 6,000 53,000
$1 American Eagle 1 Oz Silver Coin 0 95,000 380,000 435,000 6,822,500
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 1,100 0 30,000 30,000

This site uses Akismet to reduce spam. Learn how your comment data is processed.