Gold Eases 0.2%, Silver Dips Below $17

by CoinNews.net on August 24, 2017 · 0 comments

American Eagle silver coins, bullion gold bars, money

Precious metals futures ended divided Thursday, Aug. 24, with gold and silver lower and platinum and palladium higher

Precious metals were mixed Thursday. Gold and silver futures logged modest changes for a fourth straight session.

Gold for December delivery shed $2.70, or 0.2%, to settle at $1,292 an ounce on the Comex division of the New York Mercantile Exchange.

Investors are anxiously awaiting Friday’s annual economic policy symposium held in Jackson Hole, Wyoming, opined analysts.

"The market is pricing in the Federal Reserve’s actions at the Jackson Hole meeting and people are expecting some kind of tightening going on in that space," Reuters quoted Richard Xu, a fund manager at China’s biggest gold exchange-traded fund, HuaAn Gold. "So that’s why gold is going to be under some kind of pressure."

Gold futures ranged from a low of $1,289.30 to a high of $1,296.80. They added 0.3% on Wednesday, declined 0.4% on Tuesday, and climbed 0.4% on Monday to mark their best close since June 6.

Elsewhere, silver for September delivery declined 8.3 cents, or just under 0.5%, to settle at $16.963 an ounce. Silver futures traded between $16.81 and $17.10. They rose 0.4% in the previous session, dipped 0.2% on Tuesday, and edged up 0.09% on Monday.

In other precious metals futures prices on Thursday:

  • October platinum added $1.70, or 0.2%, to $982.60 an ounce, ranging from $975.30 to $986.

  • Palladium for September delivery rose $3.15, or 0.3%, to $936.15 an ounce, trading between $926.20 and $934.05. On Monday, they ended at $939 an ounce for their highest settlement since February 2001.

London Precious Metals Prices

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

  • Gold added $2.35 or 0.2%, to 1,289 an ounce.
  • Silver declined 13 cents, or 0.8%, to $16.93 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 Wednesday as of 3:09 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 0 1,500 13,500 6,000 161,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 0 2,000 29,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 4,000 2,000 54,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 15,000 30,000 15,000 305,000
$50 American Buffalo 1 Oz Gold Coin 0 0 500 6,000 2,500 74,500
$1 American Eagle 1 Oz Silver Coin 0 125,000 190,000 2,320,000 425,000 14,978,500
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