Gold and Silver Turn Up for Second Session

by CoinNews.net on October 7, 2014 · 0 comments

Coins and Bullion bars

Precious metals advanced Tuesday

Gold ticked higher for a second straight session on Tuesday, bolstered by bargain hunting and a weakening U.S. dollar.

Gold for December delivery gained $5.10, or 0.4%, to close at $1,212.40 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices ended the U.S. day session modestly higher Tuesday, on short covering in the futures market and bargain hunting in the cash market. The weakening U.S. dollar index this week is also a bullish underlying factor for gold and the other precious metals," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The gold market bulls are vigorously defending major technical support at the $1,180.00 area, which is the 2013 low."

Gold prices ranged from a low of $1,203 to a high of $1,214.10. They advanced on Monday by $14.40, or 1.2%.

Silver for December delivery rose a penny, or 0.1%, to settle at $17.24 an ounce. The precious metal traded between $17.09 and $17.63. Silver prices surged 40 cents, or 2.4%, in the prior session.

PGM futures also advanced. In their closings:

  • January platinum settled up $12.70, or 1%, to $1,261.90 an ounce, ranging from $1,240.50 to $1,269.

  • Palladium for December delivery jumped $20.90, or 2.7%, to $787 an ounce, trading between $767.85 and $790.

London Fix Precious Metals

Earlier fixed London precious metals also climbed. In contrasting the London bullion Fix prices and the LBMA Silver Price from Tuesday PM to Wednesday PM:

  • Gold added $14.75, or 1.2%, to $1,210.50 an ounce,
  • Silver turned up 34 cents, or 2%, to $17.36,
  • Platinum rose $30, or 2.4%, to $1,259 an ounce, and
  • Palladium advanced $22, or 2.9%, to $778 an ounce

US Mint Bullion Coin Sales in October

United States Mint coin sales were unchanged Tuesday as of 3:07 PM ET. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold last week, this week, last month, in early October, and the year to date.

American Eagle and Buffalo Bullion Sales (# of coins)
Tuesday Sales Last Week Current Week September Sales October Sales YTD Sales
$100 American Platinum Eagle Bullion Coins 0 2,500 0 2,700 400 16,700
$50 American Eagle Bullion Gold Coins 0 10,000 12,000 50,500 16,000 312,000
$25 American Eagle Bullion Gold Coins 0 1,000 1,000 6,000 2,000 34,000
$10 American Eagle Bullion Gold Coins 0 0 2,000 8,000 2,000 94,000
$5 American Eagle Bullion Gold Coins 0 10,000 0 30,000 5,000 445,000
$50 American Buffalo Bullion Gold Coins 0 4,000 4,500 14,500 7,000 146,500
$1 American Eagle Silver Bullion Coins 0 2,740,000 125,000 4,140,000 1,775,000 34,026,000
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins 0 1,500 0 3,500 0 33,000
Shenandoah National Park 5 Oz Silver Bullion Coins 0 0 0 1,000 0 21,500
Arches National Park 5 Oz Silver Bullion Coins 0 0 0 800 0 22,000
Great Sand Dunes 5 Oz Silver Bullion Coins 0 800 0 4,500 500 12,500

 

{ 0 comments… add one now }

Leave a Comment