Gold, Silver Futures Snap 5-Session Losing Streak

by CoinNews.net on September 14, 2016 · 0 comments

Gold Bullion, five bars in total

Precious metals futures registered modest gains ranging from less than 0.1% for palladium to 0.5% for both silver and platinum

Precious metals futures inched higher in the mid-week trading session Wednesday. Gains in gold and silver were a first in six sessions.

Gold for December delivery added $2.40, or 0.2%, to settle at $1,326.10 an ounce on the Comex division of the New York Mercantile Exchange. Gold’s increase was attributed to a weakened U.S. dollar.

"There was some very volatile, algorithm driven price action today in the gold market, with the metal carving out an $8 range on moderate-to-good volume," Reuters quoted Alex Thorndike, senior precious metals dealer with MKS PAMP Group.

Gold futures ranged from a low of $1,316.60 to a high of $1,329.80. In the previous session, they closed at their lowest level since Sept. 1.

Elsewhere, silver for December delivery gained 9.1 cents, or 0.5%, to end at $19.066 an ounce. Silver futures traded between $18.84 and $19.18.

In PGM futures on Wednesday:

  • October platinum rose $4.90, or 0.5%, to $1,040.90 an ounce, ranging from $1,034.20 to $1,048.80.

  • Palladium for December delivery edged up 40 cents, or less than 0.1%, to $656.50 an ounce, trading between $652.50 and $663.60.

London Precious Metals Prices

In comparing earlier fixed London bullion prices from Tuesday PM to Wednesday PM:

  • Gold declined $1.90, or 0.1%, to $1,321.75 an ounce.
  • Silver fell 12 cents, or 0.6%, to $19.04 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 2016

United Sates Mint bullion sales were unchanged Wednesday as of 3:51 p.m. ET. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion 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 Aug Sales Sept Sales 2016 Sales
$100 American Eagle 1 Oz Platinum Coins* 0 0 0 1,000 0 20,000
$50 American Eagle 1 Oz Gold Coins 0 14,500 4,500 50,000 24,000 510,000
$25 American Eagle 1/2 Oz Gold Coins 0 1,000 0 3,000 2,000 53,000
$10 American Eagle 1/4 Oz Gold Coins 0 6,000 0 4,000 6,000 106,000
$5 American Eagle 1/10 Oz Gold Coins 0 20,000 0 60,000 35,000 650,000
$50 American Buffalo 1 Oz Gold Coins 0 3,500 0 9,000 4,500 136,000
$1 American Eagle 1 Oz Silver Coins 0 170,000 640,000 1,280,000 950,000 29,850,500
2016 Shawnee 5 Oz Silver Coins* 0 0 0 0 0 105,000
2016 Cumberland Gap 5 Oz Silver Coins* 0 0 0 0 0 75,000
2016 Harpers Ferry 5 Oz Silver Coins 0 0 0 1,900 0 36,100
2016 Theodore Roosevelt 5 Oz Silver Coins 0 1,500 1,000 27,500 2,500 30,000

 

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