Gold Punches Above $1,300; Silver Jumps 2.7%; US Gold Coins Up

by CoinNews.net on October 17, 2013 · 0 comments

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Gold, silver and other precious metals advanced in tandem for a second straight session Thursday.

Gold for December delivery rallied $40.70, or 3.2%, to end at $1,323 an ounce on the Comex division of the New York Mercantile Exchange. Prices ranged from $1,273.70 to $1,324.20. On Wednesday, gold prices gained $9.10, or 0.7%.

"Now that we have reached an agreement on the debt ceiling, it’s just a big unwind — people are flooding out of the dollar and covering all their shorts in gold," Reuters quoted Phillip Streible, senior commodities broker at brokerage RJ O’Brien.

In other New York precious metals futures on Thursday:

  • Silver for December delivery surged 58.2 cents, or 2.7%, to $21.95 an ounce, trading between $21.10 and $22.20. Silver added 17.4 cents, or 0.8%, in the prior session.

  • January platinum tacked on $36.70, or 2.6%, to $1,434.90 an ounce, ranging from $1,393.20 to $1,438.40. On Tuesday, platinum gained $14.80, or 1.1%.

  • Advancing for the fifth time in six sessions, palladium for December soared $24.25, or 3.4%, to $737.80 an ounce. It traded between $713.15 and $741.25. Palladium climbed $7.25, or 1%, in the prior session.

London Fix Precious Metals

London precious metals were also much stronger. In contrasting their Wednesday PM to Thursday PM London fix prices:

  • Gold gained $45.75, or 3.6%, to $1,319.25 an ounce,
  • Silver jumped 40 cents, or 1.9%, to $21.72 an ounce,
  • Platinum advanced $28, or 2%, to $1,420 an ounce, and
  • Palladium gained $15, or 2.1%, to $723 an ounce

U.S. Mint Bullion Sales in October

Sales across United States Mint bullion products rose for gold coins, up 2,000 ounces. Overall, gold and silver coin levels for the week so far are sharply higher than in recent weeks.

U.S. Mint bullion splits for the day, week, in October and for the year-to-date follow.

American Eagle and Buffalo Bullion Sales
  Thursday Sales Last Week Week-To-Date Sales October Sales YTD Sales
$50 American Eagle Gold Coins 1,000 8,000 11,500 21,500 626,500
$25 American Eagle Gold Coins 0 0 0 1,000 54,000
$10 American Eagle Gold Coins 0 0 0 2,000 106,000
$5 American Eagle Gold Coins 0 5,000 5,000 15,000 480,000
$50 American Buffalo Gold Bullion Coins 1,000 1,500 6,000 12,000 212,000
White Mountain 5 oz. Silver Bullion Coins Sold Out 35,000
Perry’s Victory 5 oz. Silver Bullion Coins 0 0 0 1,200 26,200
Great Basin 5 oz. Silver Bullion Coins 0 0 0 2,200 27,200
Fort McHenry 5 oz. Silver Bullion Coins 0 600 0 2,600 27,600
American Silver Eagle Bullion Coins 0 700,000 749,500 1,636,500 37,724,500

 

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