Gold Notches 9-Week High, Silver Logs New 8-Week High

by CoinNews.net on August 10, 2017 · 0 comments

999.9 Fine Gold Bar

Precious metals registered increases on Thursday, Aug. 10, ranging from 0.6% for palladium to 1.2% for silver

Precious metals futures advanced Thursday on continued safe-haven demand. Gold finished at a more than nine-week high and silver ended at its best price in more than eight weeks.

Gold for December delivery tacked on $10.80, or 0.8%, to settle at $1,290.10 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the strongest since June 7.

"The war of words between the leaders of the U.S. and North Korea continue to dominate investor sentiment," Reuters quoted Forex.com technical analyst Fawad Razaqzada. "Gold and silver are higher, thanks mainly to their status as safe-haven commodities."

Gold futures traded from a low $1,280.30 to a high of $1,293.80. They gained 1.3% on Wednesday, dipped 0.2% on Tuesday and added a dime in their start to the week on Monday.

Ending higher for a third day in a row after falling for five straight sessions, silver for September delivery advanced 20.2 cents, or 1.2%, to settle at $17.065 an ounce. The close was the highest since June 14. Silver futures ranged from $16.85 to $17.24. They surged 2.9% on Wednesday, gained 0.9% in the previous session and slipped one-tenth of a cent on Monday.

In other precious metals futures Thursday:

  • October platinum moved up $9.80, or 1%, to $985.90 an ounce, trading between $975.70 and $988.60.

  • Palladium for September delivery added $5.20, or 0.6%, to $897.05 an ounce, ranging from $890.40 to $905.

London Precious Metals Prices

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

  • Gold rose $13.35, or 1.1%, to 1,284.40 an ounce.
  • Silver jumped 49 cents, or 3%, to $17.08 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 3:17 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)
Thursday 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

 

{ 0 comments… add one now }

Leave a Comment