Gold Extends Gains to 4th Day, Ends at 2-Week High

by CoinNews.net on September 22, 2016 · 0 comments

Gold Bars Close-up

Precious metals futures registered daily gains of 1% for gold to 2.4% for palladium

Gold futures scored a fourth straight session increase Thursday, closing at a just over two-week high.

Gold for December delivery tacked on $13.30, or 1%, to settle at $1,344.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Sept. 7. Gold futures ranged from a low of $1,335.10 to a high of $1,347.80.

"This is a follow on from what happened yesterday with the Fed being more dovish, the market is now going through the upside in gold prices," Reuters quoted ABN AMRO commodity strategist Georgette Boele.

On Wednesday, the FOMC kept interest rates unchanged.

Gold advanced 1% previously, climbed less than 0.1% on Tuesday, and rose by 0.6% on Monday. They are poised for a more than 2.6% weekly increase.

Higher for a second day in a row, silver for December delivery gained 33.1 cents, or 1.7%, to settle at $20.099 an ounce. Silver futures traded between $19.785 and $20.145. They surged 2.6% in the previous session and are 6.6% higher so far this week.

In other precious metals futures:

  • October platinum rose $14.90, or 1.4%, to $1,062.80 an ounce, trading between $1,046.50 and $1,068.30.

  • Palladium for December delivery settled up $16.55, or 2.4%, to $700.45 an ounce, ranging from $684.20 and $701.75.

London Precious Metals Prices

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

  • Gold added $13, or 1%, to $1,339.10 an ounce.
  • Silver added 44.5 cents, or 2.3%, to $19.875 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

U.S. Mint bullion sales were unchanged as of 3:26 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)
Thursday 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 18,500 14,000 50,000 52,000 538,000
$25 American Eagle 1/2 Oz Gold Coins 0 2,000 0 3,000 4,000 55,000
$10 American Eagle 1/4 Oz Gold Coins 0 4,000 0 4,000 10,000 110,000
$5 American Eagle 1/10 Oz Gold Coins 0 15,000 15,000 60,000 65,000 680,000
$50 American Buffalo 1 Oz Gold Coins 0 3,000 4,000 9,000 11,500 143,000
$1 American Eagle 1 Oz Silver Coins 0 740,000 205,000 1,280,000 1,255,000 30,155,500
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 0 200 1,900 200 36,300
2016 Theodore Roosevelt 5 Oz Silver Coins 0 1,000 0 27,500 2,500 30,000

 

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