Gold Logs 7th Loss in 8 Sessions

by CoinNews.net on October 11, 2016 · 0 comments

Bullion gold bars and US $100s.

Precious metals futures logged declines Tuesday that ranged from 0.9% for silver to 3.1% for palladium

Gold futures moved lower Tuesday, posting their seventh loss in eight sessions as the U.S. dollar advanced.

Gold for December delivery shed $4.50, or 0.4%, to settle at $1,255.90 an ounce on the Comex division of the New York Mercantile Exchange.

"The key ‘outside markets’ were in a bearish daily posture for the precious metals, as the U.S. dollar index was solidly higher and crude oil prices were lower," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report

Gold futures ranged from a low of $1,254.30 to a high of $1,264. On Monday, they climbed 0.7%.

Lower for the first time in three sessions, silver for December delivery lost 15 cents, or 0.9%, to settle at $17.509 an ounce. Silver futures traded between $17.46 and $17.86. They advanced 1.6% in the previous session.

In other precious metals futures:

  • January platinum declined $15.60, or 1.6%, to $949.80 an ounce, ranging from $947.80 to $974.

  • Palladium for December delivery sank $20.40, or 3.1%, to $648.15 an ounce, trading between $647.40 and $672.50.

London Precious Metals Prices

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

  • Gold declined $6.05, or 0.5%, to $1,253.45 an ounce.
  • Silver shed 30 cents, or 1.7%, to $17.48 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 products registered their first gains this week with advances of 6,500 ounces in gold coins and 547,500 ounces in silver coins.

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)
Tuesday / This Week Last Week Sept Sales Oct Sales 2016 Sales
$100 American Eagle 1 Oz Platinum Coins* 20,000
$50 American Eagle 1 Oz Gold Coins 5,500 42,000 79,000 47,500 612,500
$25 American Eagle 1/2 Oz Gold Coins 2,000 1,000 5,000 3,000 59,000
$10 American Eagle 1/4 Oz Gold Coins 0 6,000 16,000 6,000 122,000
$5 American Eagle 1/10 Oz Gold Coins 0 15,000 85,000 15,000 715,000
$50 American Buffalo 1 Oz Gold Coins 0 8,000 17,500 8,000 157,000
$1 American Eagle 1 Oz Silver Coins 545,000 1,405,000 1,675,000 1,950,000 32,525,500
2016 Shawnee 5 Oz Silver Coins* 105,000
2016 Cumberland Gap 5 Oz Silver Coins* 75,000
2016 Harpers Ferry 5 Oz Silver Coins 0 0 200 0 36,300
2016 Theodore Roosevelt 5 Oz Silver Coins 500 1,000 2,000 1,500 31,000

 

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