Gold and Silver Futures Slip from 3-Week Highs

by CoinNews.net on October 26, 2016 · 1 comment

.999 fine silver bar held in hand

Precious metals posted losses that ranged from less than 0.1% for platinum to 2.2% for palladium

Precious metals futures declined Wednesday, with both gold and silver sliding from more than three-week highs.

Gold for December delivery declined $7, or 0.6%, to settle at $1,266.60 an ounce on the Comex division of the New York Mercantile Exchange.

"In the afternoon, equity markets bounced back sharply once the U.S. session got underway while safe haven gold started to drift lower again," Reuters quoted Fawad Razaqzada, market analyst for forex.com.

Gold futures ranged from a low of $1,265.10 to a high of $1,277.20. They climbed 0.8% on Tuesday, marking their best close since Oct. 3.

Meanwhile, silver for December lost 15.4 cents, or 0.9%, to close at $17.626 an ounce. Silver futures traded between $17.57 and $17.87. In the previous session, they gained 1% and also finished at their best level since Oct. 3.

In PGM futures on Wednesday:

  • January platinum slipped 90 cents, or less than 0.1%, to $964 an ounce, ranging from $958 to $971.90.

  • Palladium for December delivery fell $13.90, or 2.2%, to $620.95 an ounce, trading between $618.20 and $639.60.

London Precious Metals Prices

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

  • Gold rose $1.10, or less than 0.1%, to $1,270.50 an ounce.
  • Silver fell 7 cents, or 0.4%, to $17.66 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 States Mint bullion sales were unchanged. 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)
Wednesday Sales Last Week This Week Sept Sales Oct Sales 2016 Sales
$100 American Eagle 1 Oz Platinum Coins* 20,000
$50 American Eagle 1 Oz Gold Coins 0 19,000 13,500 79,000 90,000 655,000
$25 American Eagle 1/2 Oz Gold Coins 0 2,000 1,000 5,000 7,000 63,000
$10 American Eagle 1/4 Oz Gold Coins 0 4,000 4,000 16,000 16,000 132,000
$5 American Eagle 1/10 Oz Gold Coins 0 10,000 20,000 85,000 70,000 770,000
$50 American Buffalo 1 Oz Gold Coins 0 10,000 2,000 17,500 24,000 173,000
$1 American Eagle 1 Oz Silver Coins 0 1,325,000 25,0000 1,675,000 3,670,000 34,250,500
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 0 200 200 36,500
2016 Theodore Roosevelt 5 Oz Silver Coins 0 800 500 2,000 3,100 32,600

 

{ 1 comment… read it below or add one }

Mouse October 26, 2016 at 5:40 pm

I am mixing up my silver stack with multiple world mint silver bullion coins. My latest edition was the Perth mint – 1 Oz Star Trek silver bullion coins. First of its kind in bullion – mintage of 50,000. Premium is high but not as high as a Panda. The Perth only made this bullion coin available to Australian residents but I was able to find a Canadian dealer that had some in stock. I highly recommend the purchase to those who are diversifying their silver stack.

Mouse

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