Gold Dips, Silver Extends Losing Streak

by CoinNews.net on November 5, 2013 · 0 comments

Four .9999 fine gold bars

Gold turned lower Tuesday after rising slightly in the previous session. The precious metal has declined in three of the last four sessions.

Gold for December delivery fell $6.60, or 0.5%, to finish at $1,308.10 an ounce on the Comex division of the New York Mercantile Exchange. Prices ranged from a low of $1,305.20 to a high of $1,320.60. On Monday, gold tacked on $1.50, or 0.1%.

"Gold prices ended the U.S. day session moderately lower Tuesday and gave up slight gains scored just after the futures market opened in New York," said Jim Wyckoff, a senior analyst at Kitco Inc, in a daily note. "The key ‘outside markets’ were bearish for the precious metals Tuesday, as the U.S. dollar index was higher and crude oil prices were lower."

Lower for a fourth consecutive session, silver for December delivery declined 6 cents, or 0.3%, to settle at $21.64 an ounce. Silver prices traded from $21.56 and $21.79.

PGM’s split Tuesday with platinum snapping a two-session winning streak and palladium extending gains to a third straight sessions.

  • January platinum lost $6.20, or 0.4%, to $1,450.00 an ounce, ranging from $1,448.30 to $1,459.70.

  • Palladium for December delivery edged up 80 cents, or 0.1%, to $750.30 an ounce, trading between $742.90 and $755.

London Fix Precious Metals

London precious metal fixings were lower to unchanged. In contrasting Monday PM to Tuesday PM London fix prices:

  • Gold lost $13.25, or 1%, to $1,307.25 an ounce,
  • Silver declined 25 cents, or 1.1%, to $21.60 an ounce,
  • Platinum slipped $2, or 0.1%, to $1,451 an ounce, and
  • Palladium was flat at $745 an ounce

US Mint Bullion Sales in November

Sales totals for U.S. Mint bullion coins were unchanged as of 3:46 p.m. ET. The latest daily, November and year-to-date United States Mint bullion sales figures are listed below.

American Eagle and Buffalo Bullion Sales (# of coins)
  Tuesday Sales Last Week Week-To-Date Sales November Sales YTD Sales
$50 American Gold Eagle Bullion Coins 0 10,500 5,500 8,500 654,500
$25 American Gold Eagle Bullion Coins 0 0 0 0 56,000
$10 American Gold Eagle Bullion Coins 0 0 0 0 114,000
$5 American Gold Eagle Bullion Coins 0 5,000 0 0 500,000
$50 American Buffalo Gold Bullion Coins 0 3,000 500 500 218,500
White Mountain 5 oz. Silver Bullion Coins Sold Out 35,000
Perry’s Victory 5 oz. Silver Bullion Coins 0 0 0 0 26,200
Great Basin 5 oz. Silver Bullion Coins 0 0 0 0 27,200
Fort McHenry 5 oz. Silver Bullion Coins 0 600 1,000 1,000 29,200
Mount Rushmore 5 oz. Silver Bullion Coins 0 0 6,000 6,000 6,000
American Silver Eagle Bullion Coins 0 701,000 0 0 39,175,000

 

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