Gold, Silver and Palladium Bounce Higher

by CoinNews.net on September 23, 2015 · 0 comments

Two silver bullion bars and gold nuggets

Platinum declined Wednesday while other metals advanced

Most precious metals futures turned higher Wednesday after dropping in tandem on Tuesday.

Gold for December delivery settled up $6.70, or 0.6%, to $1,131.50 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices traded from a low of $1,121.10 to a high of $1,134.

"Gold prices ended the U.S. day session modestly higher Wednesday, on a short-covering bounce in the futures market and some bargain hunting in the cash, following the selling pressure seen on Monday and Tuesday," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

Gold’s prior higher settlement happened on Friday when prices surged 1.9% to post a 3.1% weekly gain.

Climbing for the fifth time in six sessions, silver for December delivery added 3 cents, or 0.2%, to settle at $14.79 an ounce. Silver prices ranged from $14.69 to $14.91. They plunged on Tuesday by 47 cents or 3.1%.

In PGM futures on Wednesday:

  • October platinum turned down $5.10, or 0.5%, to $932.40 an ounce, trading between $925.80 and $947.20.

  • Palladium for December delivery tacked on $34.75, or 5.7%, to $645.70 an ounce, ranging from $606.90 to $651.

London Precious Metals Prices

Earlier fixed London gold and silver prices were mixed. In comparing their prices from Tuesday PM to Wednesday PM:

  • Gold added $8.45, or 0.8%, to $1,131.35 an ounce.
  • Silver fell 14 cents, or 0.9%, to $14.80 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 September

United States Mint bullion sales were unchanged Wednesday as of 3:19 p.m. Below is a listing of United States Mint bullion products with the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Wednesday Sales Last Week This Week August Sales Sept Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 0 35,500 12,000 78,500 88,500 510,000
$25 American Eagle 1/2 Oz Gold Coins 0 3,000 1,000 8,000 7,000 61,000
$10 American Eagle 1/4 Oz Gold Coins 0 8,000 4,000 24,000 16,000 138,000
$5 American Eagle 1/10 Oz Gold Coins 0 40,000 30,000 130,000 140,000 795,000
$50 American Buffalo 1 Oz Gold Coins 0 6,500 3,000 20,000 19,500 168,000
$1 American Eagle 1 Oz Silver Coins 809,500 750,000 4,935,000 2,804,500 35,054,500
2015 Homestead 5 Oz Silver Coins* 35,000
2015 Kisatchie 5 Oz Silver Coins* 42,000
2015 Blue Ridge Parkway 5 Oz Silver Coins* 45,000

 

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