Gold Scores New 11-Month High, Palladium Notches Fresh 16-1/2-Year High

by CoinNews.net on August 29, 2017 · 1 comment

Gold bullion, Three Bars

Gold futures ended at their strongest price since Sept. 29

Precious metals futures ended mostly higher Tuesday. Gold and palladium scored fresh milestone highs though silver slipped from a 12-week high.

Gold for December delivery added $3.60, or 0.3%, to end at $1,318.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Sept. 29 when gold prices ended at $1,326 an ounce.

"The yellow metal was supported on news North Korea fired a ballistic missile over Japan," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "An eroding U.S. dollar index that hit another 15-month low today also lifted the precious metals markets."

Gold futures ranged from a low of $1,310.60 to a high of $1,331.90. They gained 1.3% in their start to the week on Monday.

Silver for September delivery dipped 1.5 cents, or less than 0.1%, to settle at $17.426 an ounce. Silver futures traded between $17.25 and $17.67. They rallied 2.3% in the prior session, ending at their best price since June 6.

In other precious metals futures prices:

  • October platinum tacked on $14.20, or 1.4%, to $1,003.50 an ounce, ranging from $991 to $1,011.50.

  • Palladium for December delivery gained $11.35, or 1.2%, to $943.70 an ounce — its latest, strongest settlement since February 2001. Palladium prices traded between $932.90 and $947.

London Precious Metals Prices

London market closed Monday for a public holiday. In comparing earlier fixed London gold and silver prices from Friday PM to Tuesday PM:

  • Gold added $33.35 or 2.6%, to 1,318.65 an ounce.
  • Silver jumped 58 cents, or 3.4%, to $17.60 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

U.S. Mint bullion sales advanced Tuesday by 1,000 ounces in gold coins and by 350,000 ounces in silver coins. 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)
Tuesday 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 500 1,500 500 13,500 6,500 162,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 0 2,000 29,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 4,000 2,000 54,000
$5 American Eagle 1/10 Oz Gold Coin 0 15,000 0 30,000 15,000 305,000
$50 American Buffalo 1 Oz Gold Coin 500 500 500 6,000 3,000 75,000
$1 American Eagle 1 Oz Silver Coin 300,000 190,000 600,000 2,320,000 1,025,000 15,578,500
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
2017 Ellis Island 5 Oz Silver Coin 10,000 N/A 39,500 N/A 39,500 39,500

 

{ 1 comment… read it below or add one }

Joe Brown August 29, 2017 at 11:38 pm

a rear green day, for the 4 precious 1’s.

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