Gold Eases 0.4% Lower, Silver Rises 1.1%

by CoinNews.net on November 8, 2016 · 2 comments

Silver bullion bars

Silver futures advanced 1.1%

Gold futures fell for a second session in row Tuesday. Other precious metals climbed, led by a 1.4% increase in palladium.

Gold for December delivery shed $4.90, or 0.4%, to settle at $1,274.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the lowest since Oct. 27.

"I don’t think that today’s gold trade has much to do with interest rates, support and resistance, or any other technical or financially-fundamental data," MarketWatch quoted Adam Koos, president of Libertas Wealth Management Group. "Right now, all eyes are on the election."

Gold futures ranged from a low of $1,273.30 to a high of $1,291.50. They fell 1.9% in the previous session.

Silver for December delivery tacked on 20.5 cents, or 1.1%, to settle at $18.356 an ounce. Silver futures traded between $18.17 and $18.73. On Monday, they slipped 1.2%.

Rounding out metals trading:

  • January platinum gained $7.20, or 0.7%, to $1,008.60 an ounce, trading between $998.70 and $1,017.30.

  • Palladium for December delivery rose $9.10 to $665.50 an ounce, ranging from $644.15 to $670.

London Precious Metals Prices

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

  • Gold declined 70 cents, or less than 0.1%, to $1,282.35 an ounce.
  • Silver added 4 cents, or 0.2%, to $18.26 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 coins climbed by 2,000 ounces in American Gold 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)
Tuesday Sales Last Week This Week Oct Sales Nov Sales 2016 Sales
$100 American Eagle 1 Oz Platinum Coins* 20,000
$50 American Eagle 1 Oz Gold Coins 2,000 23,000 7,500 100,500 24,000 689,500
$25 American Eagle 1/2 Oz Gold Coins 0 4,000 0 8,000 3,000 67,000
$10 American Eagle 1/4 Oz Gold Coins 0 4,000 0 16,000 4,000 136,000
$5 American Eagle 1/10 Oz Gold Coins 0 10,000 10,000 75,000 15,000 790,000
$50 American Buffalo 1 Oz Gold Coins 0 7,500 0 28,500 4,500 182,000
$1 American Eagle 1 Oz Silver Coins 0 370,000 150,000 3,825,000 370,000 34,770,500
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 0 200 0 36,500
2016 Theodore Roosevelt 5 Oz Silver Coins 0 300 0 3,100 300 32,900

 

{ 2 comments… read them below or add one }

Seth Riesling November 8, 2016 at 4:55 pm

Mike Unser –

Thanks for the precious metals update before the results of Election Day later this evening. You have two columns labeled the same as: “Last Week”.

-NumisDudeTX

Mouse November 8, 2016 at 9:54 pm

The election results will either be a sell sell sell day or a buy buy buy day lol looking forward to tomorrow morning.

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