Gold Settles At More Than 3-Week High

by CoinNews.net on January 4, 2017 · 0 comments

US Money and Three Gold Bars

Precious metals futures posted gains that ranged from 0.3% for both gold and platinum to 4.1% for palladium

Precious metals advanced in tandem for a second day in a row Wednesday. Gold futures drove to a more than 3-week high as the U.S. dollar softened.

Gold for February delivery added $3.30, or 0.3%, to finish at $1,165.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Dec. 12.

"The dollar index has consolidated and the big outflow from exchange-traded products (ETPs), which has been the biggest headwind for gold in the past few months, has stopped recently," Reuters quoted Julius Baer analyst Carsten Menke.

Gold futures ranged from a low of $1,156.70 to a high of $1,168.60. They rose 0.9% in their start Tuesday to the holiday-shortened trading week.

Rising for the fifth time in six sessions, silver for March delivery added 14.3 cents, or 0.9%, to $16.552 an ounce. The settlement is the highest since Dec. 14. Silver futures traded between $16.30 and $16.57. In the previous session, they moved up 2.6%.

In PGM futures Wednesday:

  • April platinum gained $3, or 0.3%, to $947.20 an ounce, ranging from $928.40 to $953.60.

  • Palladium for March delivery jumped $28.90, or 4.1%, to $738.80 an ounce, trading between $708.30 and $744.15. The precious metal is 8.1% higher so far this week.

London Precious Metals Prices

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

  • Gold gained $13.25, or 1.2%, to $1,164.25 an ounce.
  • Silver surged 47 cents, or 3%, to $16.42 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 2017

U.S. Mint bullion sales will take off next Monday, Jan. 9, when new 2017-dated coins become available. Most of the agency’s 2016-dated issues sold out in early December.

Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Wednesday / This Week Last Week Dec Sales 2016 Sales 2017 Sales
$50 American Eagle 1 Oz Gold Coins* 23,000 817,500 0
$25 American Eagle 1/2 Oz Gold Coins   0 3,000 74,000 0
$10 American Eagle 1/4 Oz Gold Coins* 2,000 152,000 0
$5 American Eagle 1/10 Oz Gold Coins* 40,000 925,000 0
$50 American Buffalo 1 Oz Gold Coins   0 12,500 219,500 0
$1 American Eagle 1 Oz Silver Coins* 240,000 37,701,500 0
2016 Shawnee 5 Oz Silver Coins* 105,000 0
2016 Cumberland Gap 5 Oz Silver Coins* 75,000 0
2016 Harpers Ferry 5 Oz Silver Coins   0 100 38,100 0
2016 Theodore Roosevelt 5 Oz Silver Coins* 800 40,000 0
2016 Fort Moultrie 5 Oz Silver Coins   0 0 27,800 0

 

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