Gold Advances 1.3%, Silver Rallies Near 2-Month High

by CoinNews.net on August 9, 2017 · 5 comments

2 Silver Bullion Bars

Silver futures posted an almost two-month high Wednesday, Aug. 9

Gold and silver futures rallied Wednesday. Silver scored its best close in nearly two months while gold ended at its highest price in more than a week.

Gold for December delivery advanced $16.70, or 1.3%, to settle at $1,279.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the strongest since Aug. 1 when prices ended 10 cents higher. The precious metal saw safe-haven demand over rising tensions between the U.S. and North Korea.

"The threat has escalated and investors are rushing from equities back into precious metals for safety," Bloomberg News quoted Phil Streible, senior market strategist at RJO Futures in Chicago. "It seems the U.S. is one step closer to engaging in military conflict with North Korea."

Gold futures traded from a low $1,265.90 to a high of $1,282.40. They dipped 0.2% on Tuesday and added a dime in their start to the week on Monday.

Ending higher for a second day in a row after dropping for five straight sessions, silver for September delivery jumped 47.4 cents, or 2.9%, to settle at $16.863 an ounce. The close was the highest since June 14. Silver futures ranged from $16.43 to $16.91. They advanced 0.9% in the previous session and slipped one-tenth of a cent on Monday.

In PGM futures on Wednesday:

  • October platinum increased $1.60, or 0.2%, to $976.10 an ounce, trading between $974.20 and $985.

  • Palladium for September delivery declined $6.55, or 0.7%, to $891.85 an ounce, ranging from $888.60 to $898.75.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:

  • Gold added $9.25, or 0.7%, to 1,271.05 an ounce.
  • Silver added 20 cents, or 1.2%, to $16.59 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint Bullion Sales in 2017

United States Mint bullion sales were unchanged as of 3:27 p.m. ET. Below is a sales breakdown of U.S. 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 Last Week This Week July August YTD
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 0 1,000 500 13,500 500 156,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 0 1,000 28,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 4,000 0 52,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 30,000 0 290,000
$50 American Buffalo 1 Oz Gold Coin 0 1,500 0 5,000 0 71,000
$1 American Eagle 1 Oz Silver Coin 0 50,000 110,000 2,320,000 110,000 14,663,500
2017 Effigy Mounds 5 Oz Silver Coin 0 0 0 0 0 35,000
2017 Frederick Douglass 5 Oz Silver Coin 0 0 0 0 0 20,000
2017 Ozark Riverways 5 Oz Silver Coin 0 0 0 0 0 20,000

 

{ 5 comments… read them below or add one }

Joe Brown August 9, 2017 at 7:05 pm

who is he going point finger at, if one drops on any of our Allies & us* or it missfires like willy cioatea & roadrunner on n,k, cina, ussr & so on. u no i no there is good people ever where. These good people would love to get out of these hell O’s but can’t, their grateful if they can feed there kids let alone his wife & him. That sqrewball in north k, & ours they both want atention & respect, just like the rulers of jp* & they got it. A Man from my H*S let 1 looous on that iland. Who in there right frame of mind woulkd want that, & i’msure there are awhole lot out there don’t give 1, just as it ant Him. you can say i have B*s if u think big mouth think’s his bb,s are not. only balls on him, r i’s. do people laugh when they watch old footage of history or speak to one’;s that were their right after dust settilled, or worse inacent sirvivers. someone’,s got to slow the spin, before it spinsout of dust. be humbill acept huemillatea, your bb*s will grow*

Joe Brown August 9, 2017 at 9:14 pm

did it again, if he don’t get the point soon,he will start blame game, on our 1*st *G*W*, THE*ADAM*S *FAMILY *JEFFURSON* even I* CAN* NOT*TELL*liy. Be A GREAT MAN LIKE *CARTER* stand stirrate up in front of world poiint your finger between your ii’s and say i made a big bo bo. & sorry. & sea what the world will do. but don’t say what about jack & bill or dick & on, for there shot comings,our world will spin out. Some*1* once told me* with a icecold tall *B*W* on a BIGFULLMOON* berezzee warm summers night at the N*P*S* dive in, 69,70,71, idon’tno a 3*** GEN/*** march out in front, *in living COLORS* of our STAR & STRIPES* i* thought he* was going to walk out of that big screen not kidding. 6 shoter & all. & when he was done talking to me* DAD* said THAT SONOF A B had it right the FIRST TIME* i* said what u mean, HORNS & HEADLIGHTS,WISILLS for a long few minutes even on the south east x*way. i* asked 1 more time, *HE SAID *SHUT*UP* watch the movie* i did* ileak a little, i did not give 1 *c* maybe blink few times. old w* home* near poetoemic* ullhave the Biggest B*s of all* A MAN WHO WALK FIRST THAN TALK* *PATTHE*MAN* when done with hitl & his nazzseas he said don’t stopNOW* I DON*TRUSTHOWS DIRTYREDBASTERDS there going to stick that cycal up everyone ass O and smash up their with that 4 pond beater if we don*t. i* gotit* i* watch & *herd the words* too bad there would be no big boom therry red was a mess licken there wonds & every one else was, But as a TEAM* and just them hurting, ROOTTINTWOTTINPUKETIN would not be. ***GEN*GEORGE*PATTERN*** is F.BULL.S.MAD*MAN* flying around *HEVAN* no smile cent*s that day* Some*1* put a smile on *FURIOUIS* GEORGE* walk your talk & keep it simple s* give it just 1 try and mean it*

Joe Brown August 9, 2017 at 9:25 pm

who*no*s maybe 3more.even thow u r elephant* *mulerule* smile*

Chas Barber August 10, 2017 at 2:51 pm

Joe… ??

Joe Brown August 11, 2017 at 1:11 am

?*, chas – U* have 2 ?’s to say. Let us sea your two* ?’s, ?. if u* *remember them. Thanks,

Leave a Comment