Gold Futures Edge Lower; US Mint Bullion Coins Log Wide Gains

by CoinNews.net on November 9, 2016 · 0 comments

closeup of gold bullion

Precious metals futures were divided Wednesday, though most of them were little changed

Gold and silver futures were mixed Wednesday, with the former down for a third straight session and the latter up for a second day in a row.

Gold for December delivery shed $1, or less than 0.1%, to finish at $1,273.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the lowest since Oct. 27. The yellow metal had surged in overnight trading but gave back those gains.

"Gold prices were ending the U.S. day session slightly lower and have given up all the big overnight gains that pushed December futures prices to a six-week high of $1,338.30," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Risk appetite quickly returned to the marketplace Wednesday, following keen risk aversion overnight in the immediate aftermath of a surprise victory by now U.S. President-Elect Donald Trump."

Gold futures ranged from a low of $1,268.10 to a high of $1,338.30. They lost 0.4% on Tuesday after dropping 1.9% on Monday.

Elsewhere, silver for December delivery added 2.2 cents, or 0.1%, to settle at $18.378 an ounce. Silver futures traded between $18.27 and $19. On Tuesday, they rose 1.1%.

In PGM futures on Wednesday:

  • January platinum lost $5.30, or 0.5%, to $1,003.30 an ounce, trading between $995.70 and $1,023.

  • Palladium for December delivery gained $15.95, or 2.4%, to $681.45 an ounce, ranging from $652 to $684.65.

London Precious Metals Prices

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

  • Gold dipped 95 cents, or less than 0.1%, to $1,281.40 an ounce.
  • Silver added 55 cents, or 3%, to $18.81 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 logged wide gains on Wednesday with advances totaling:

  • 15,000 ounces in American Gold Eagles;
  • 2,000 ounces in American Gold Buffalos; and
  • 275,000 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)
Wednesday 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 11,500 23,000 19,000 100,500 35,500 701,000
$25 American Eagle 1/2 Oz Gold Coins 1,000 4,000 1,000 8,000 4,000 68,000
$10 American Eagle 1/4 Oz Gold Coins 6,000 4,000 6,000 16,000 10,000 142,000
$5 American Eagle 1/10 Oz Gold Coins 15,000 10,000 25,000 75,000 30,000 805,000
$50 American Buffalo 1 Oz Gold Coins 2,000 7,500 2,000 28,500 6,500 184,000
$1 American Eagle 1 Oz Silver Coins 275,000 370,000 425,000 3,825,000 645,000 35,045,500
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

 

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