Gold, Silver Score Nearly 4-Month Highs

by CoinNews.net on October 14, 2015 · 0 comments

Gold and Silver Bullion - Bars and Coins

Gold and silver extended their winning streaks

Gold and silver futures notched a nearly four-month high on Wednesday, extending their winning streaks to eight sessions in nine with four of them in a row.

Gold for December delivery advanced $14.40, or 1.2%, to settle at $1,179.80 an ounce on the Comex division of the New York Mercantile Exchange. The close is the highest since June 22 when prices ended at $1,184.10 an ounce.

"Downbeat U.S. retail sales and Federal Reserve data released today, bullish technical charts and a slumping U.S. dollar index all worked in favor of the precious metals bulls," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily report.

"There were also reports overnight that consumer demand for gold in China has seen a significant increase lately," Wyckoff added.

Gold prices traded from a low of $1,162.50 to a high of $1,188.40. They are up 2.1% so far this week.

Silver for December delivery tacked on 21 cents, or 1.3%, to close at $16.12 an ounce. Silver prices ranged from $15.79 to $16.17. Silver’s settlement is also the highest since June 22, when prices hit $16.14 an ounce. On the week so far, silver is 1.9% higher.

In other precious metals futures on Wednesday:

  • January platinum gained $2.80, or 0.3%, to $995.40 an ounce, trading between $985.50 and $1,001.70.

  • Palladium for December delivery jumped $15.50, or 2.3%, to $700.85 an ounce, ranging from $682.25 to $704.50.

London Precious Metals Prices

Earlier fixed London gold and silver prices advanced as well. In comparing their prices from Tuesday PM to Wednesday PM:

  • Gold rose $8.70, 0.8%, to $1,173.90 an ounce.
  • Silver added 23 cents, or 1.5%, to $15.84 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 October

United States Mint bullion sales were unchanged. 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 Sept Sales Oct Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 0 13,500 5,000 98,500 18,500 538,500
$25 American Eagle 1/2 Oz Gold Coins 0 2,000 0 9,000 2,000 65,000
$10 American Eagle 1/4 Oz Gold Coins 0 4,000 0 20,000 4,000 146,000
$5 American Eagle 1/10 Oz Gold Coins 0 20,000 5,000 175,000 25,000 855,000
$50 American Buffalo 1 Oz Gold Coins 0 7,000 1,000 22,000 8,000 178,500
$1 American Eagle 1 Oz Silver Coins 0 1,075,000 845,500 3,804,500 1,920,500 37,975,000
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
2015 Bombay Hook 5 Oz Silver Coins*   45,000 45,000

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