Gold Inches 0.2% Higher, Silver Near Flat

by CoinNews.net on October 27, 2016 · 0 comments

Gold Bullion

Silver and platinum futures climbed less than 0.1%, while gold futures inched up 0.2%.

Precious metals futures changed little Thursday, aside from palladium which was also alone for the day with a loss.

Gold for December delivery added $2.90, or 0.2%, to settle at $1,269.50 an ounce on the Comex division of the New York Mercantile Exchange.

"The constant strength in the U.S. dollar serves as an inhibiting factor to the upside. We were higher, volume was moderate with little real enthusiasm to speak of," Reuters quoted Bill O’Neill, co-founder of LOGIC Advisors. "I think short term, the interest rate concerns are there … but long term I still think the market is going to go higher."

Gold futures ranged from a low of $1,265.20 to a high of $1,273.70. They shed 0.6% on Wednesday.

Elsewhere, silver for December rose 1.3 cents, or less than 0.1%, to close at $17.639 an ounce. Silver futures traded between $17.54 and $17.73. In the previous session, they slipped 0.9%.

Rounding out metals trading:

  • January platinum edged up 90 cents for a second day in a row, closing at $964.90 an ounce. Prices ranged from $960.60 to $974.90.

  • Palladium for December delivery declined $7.75, or 1.3%, to $613.20 an ounce, trading between $612.10 and $626.35.

London Precious Metals Prices

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

  • Gold fell $4.25, or 0.3%, to $1,266.25 an ounce.
  • Silver was unchanged at $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 products registered daily gains of 4,000 ounces in American Gold Eagles and 500 ounces in American Gold Buffalos. 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)
Thursday 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 4,000 19,000 17,500 79,000 94,000 659,000
$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 500 10,000 2,500 17,500 24,500 173,500
$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

 

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