Gold Logs 11-Month High, Ellis Island 5 oz Bullion Coin Launches

by CoinNews.net on August 28, 2017 · 0 comments

Stacked bullion

Gold futures settled at their strongest price since the end of September 2016

Precious metals futures rallied Monday. Gold scored an 11-month high and silver settled at its best price since early June.

Gold for December delivery jumped $17.40, or 1.3%, to settle at $1,315.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Sept. 30 when gold prices ended at $1,317.10 an ounce. The yellow metal climbed as the U.S. dollar dropped.

"Expectations that the Federal Reserve will take the lead in tightening monetary policy ahead of future action by European Central Bank and/or the Bank of Japan has not helped the U.S. dollar," MarketWatch quoted Michael Armbruster, managing partner at brokerage firm Altavest.

Gold futures ranged from a low of $1,297 to a high of $1,315.70. They advanced 0.5% last week.

Meanwhile, silver for September delivery surged 39.2 cents, or 2.3%, to settle at $17.441 an ounce. The close is the strongest since June 6 when prices finished at $17.71 an ounce. Silver futures traded between $17.02 and $17.455. They rose last week by 0.3%.

In rounding out precious metals dealings on Monday:

  • October platinum gained $10.20, or 1%, to $989.30 an ounce, ranging from $976.80 to $991.10.

  • Palladium for September delivery added $3.15, or 0.3%, to $934.20 an ounce, trading between $928 and $939.10. One week ago, palladium ended at $939 an ounce for its highest settlement since February 2001.

Last week, palladium edged down 0.3% and palladium climbed 0.4%.

London Precious Metals Prices

London market closed Monday for a public holiday. In London bullion prices on Friday:

  • Gold declined $3.70 or 0.3%, to 1,285.30 an ounce.
  • Silver added 9 cents, or 0.5%, to $17.02 an ounce.
  • Platinum fell $2, or 0.2%, to $975 an ounce.
  • Palladium declined $10, or 1.1%, to $930 an ounce.

Last week, London bullion prices logged declines of 0.8% for both gold and silver, 1% for platinum, and 0.2% for palladium.

US Mint Bullion Sales in 2017

U.S. Mint bullion silver coins advanced by 447,5000 ounces while sales of gold coins remained unchanged.

2017-S Silver Proof Ellis Island Quarter - Clad, Reverse-1

The U.S. Mint is now accepting orders for the five ounce Ellis Island America the Beautiful Silver Bullion Coin. The coin shares the same designs as on the Ellis Island quarter (shown above), which the Mint is selling in rolls and bags at www.usmint.gov.

A portion of the silver sales included the fourth 2017-dated America the Beautiful Five Ounce Silver Bullion Coin. Emblematic of Ellis Island in New Jersey, its first-day sales reached 29,500 coins or 147,500 ounces — totals that already surpass this year’s second and third five-ounce issues.

Also on Monday, the U.S. Mint released rolls and bags of Ellis Island quarters. The five ounce silver coin and quarter share designs.

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)
Monday Last Week July August YTD
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 0 1,500 13,500 6,000 161,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 2,000 29,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 4,000 2,000 54,000
$5 American Eagle 1/10 Oz Gold Coin 0 15,000 30,000 15,000 305,000
$50 American Buffalo 1 Oz Gold Coin 0 500 6,000 2,500 74,500
$1 American Eagle 1 Oz Silver Coin 300,000 190,000 2,320,000 725,000 15,278,500
2017 Effigy Mounds 5 Oz Silver Coin 0 0 0 0 35,000
2017 Frederick Douglass 5 Oz Silver Coin 0 0 0 0 20,000
2017 Ozark Riverways 5 Oz Silver Coin 0 0 0 0 20,000
2017 Ellis Island 5 Oz Silver Coin 29,500 N/A N/A 29,500 29,500

 

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