Most precious metals scored gains in their start to the new trading week. Gold was an exception, dipping to close at an almost one-week low.
Gold for December delivery slipped $4, or 0.3%, to settle at $1,263.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the lowest since Oct. 18.
"The key ‘outside markets’ turned into in a bearish posture for the precious metals markets as the trading session progressed," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The U.S. dollar index moved higher and hit a seven-month high. Meantime, Nymex crude oil prices were lower."
Gold futures ranged from a low of $1,260.10 to a high of $1,272.80. They advanced last week by 1%, their second straight weekly gain.
Closing higher for the first time in three sessions, silver for December added 11.1 cents, or 0.6%, to $17.604 an ounce. Silver futures traded between $17.46 and $17.89. They edged up 0.3% last week.
In other precious metals futures:
January platinum rose $6.80, or 0.7%, to $939.10 an ounce, ranging from $932.80 to $950.40.
- Palladium for December delivery tacked on $10, or 1.6%, to $630.75 an ounce, trading between $616.20 and $634.25.
The two metals last week registered losses of 0.8% and 4.3%.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Friday PM to Monday PM:
- Gold declined $5.60, or 0.4%, to $1,266.05 an ounce.
- Silver lost 9 cents, or 0.5%, to $17.51 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
Last week, London gold and silver prices rose by 1.1% and 0.2% while platinum and palladium fell by 0.6% and 3.6%.
US Mint Bullion Coin Sales in 2016
U.S. Mint bullion products logged wide gains, adding to last week’s stronger increases. Advances on the day included:
- 14,000 ounces in American Gold Eagles;
- 1,000 ounces in American Gold Buffalos; and
- 175,000 ounces in American Silver Eagles.
Below is a sales breakdown of U.S. Mint bullion coins 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)|
|Monday Sales||Last Week||Sept Sales||Oct Sales||2016 Sales|
|$100 American Eagle 1 Oz Platinum Coins*||–||20,000|
|$50 American Eagle 1 Oz Gold Coins||11,500||19,000||79,000||88,000||653,000|
|$25 American Eagle 1/2 Oz Gold Coins||1,000||2,000||5,000||7,000||63,000|
|$10 American Eagle 1/4 Oz Gold Coins||4,000||4,000||16,000||16,000||132,000|
|$5 American Eagle 1/10 Oz Gold Coins||10,000||10,000||85,000||60,000||760,000|
|$50 American Buffalo 1 Oz Gold Coins||1,000||10,000||17,500||23,000||172,000|
|$1 American Eagle 1 Oz Silver Coins||175,000||1,325,000||1,675,000||3,600,000||34,175,500|
|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||200||200||200||36,500|
|2016 Theodore Roosevelt 5 Oz Silver Coins||0||800||2,000||2,600||32,100|