Gold Prices Edge Lower as Dollar Trades Near 14-Year High

by CoinNews.net on November 16, 2016 · 0 comments

Gold bar on top of silver bar

Gold and silver futures declined while platinum and palladium ended higher

Gold futures edged lower Wednesday, logging their seventh loss in eight sessions as the U.S. dollar traded near a 14-year high.

Gold for December delivery dipped 60 cents, or less than 0.1%, to settle at $1,223.90 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is trying to stabilize despite continued headwinds from rising real rates and a stronger dollar," Reuters quoted Ole Hansen, Saxo Bank’s head of commodity research.

Gold futures ranged from a low of $1,221 to a high of $1,233.10. They climbed 0.2% on Tuesday after ending Monday at their lowest point since June 2.

Lower for the third time in four sessions, silver for December delivery lost 11.6 cents, or 0.7%, to settle at $16.927 an ounce. Silver futures traded between $16.85 and $17.24. In the previous session, they rose 0.9%.

In PGM futures on Wednesday:

  • January platinum added $11.80, or 1.3%, to $946.50 an ounce, ranging from $926.20 to $949.90.

  • Palladium for December delivery gained $12.85, or 1.8%, to $718.80 an ounce, trading between $690.10 and $719.55.

London Precious Metals Prices

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

  • Gold added $2.25, or 0.2%, to $1,229.20 an ounce.
  • Silver dropped a nickel, or 0.3%, to $16.95 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 registered advances of 13,000 ounces in American Gold Eagles and 2,000 ounces in American Gold Buffalos.

Gold and silver sales so far this week — at 44,500 ounces and 1,387,000 ounces, respectively — are already the highest for a week since the one ended Oct. 7 when they were the best since January.

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 10,500 19,000 31,000 100,500 66,500 732,000
$25 American Eagle 1/2 Oz Gold Coins 0 1,000 0 8,000 4,000 68,000
$10 American Eagle 1/4 Oz Gold Coins 0 6,000 0 16,000 10,000 142,000
$5 American Eagle 1/10 Oz Gold Coins 25,000 25,000 45,000 75,000 75,000 850,000
$50 American Buffalo 1 Oz Gold Coins 2,000 4,000 9,000 28,500 17,500 195,000
$1 American Eagle 1 Oz Silver Coins 0 425,000 1,250,000 3,825,000 1,895,000 36,295,500
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 0 300 200 300 36,800
2016 Theodore Roosevelt 5 Oz Silver Coins 0 0 2,300 3,100 2,600 35,200
2016 Fort Moultrie 5 Oz Silver Coins 0 0 24,800 3,100 24,800 24,800

 

{ 0 comments… add one now }

Leave a Comment