Gold Slips from 1-Year High

by CoinNews.net on September 11, 2017 · 0 comments

Gold bars in layers

Gold futures slipped 1.1% on Monday, Sept. 11

Most precious metals ended lower in their start to the new trading week on Monday. Gold prices dropped from a one-year high.

Gold for December delivery declined $15.50, or 1.1%%, to settle at $1,335.70 an ounce on the Comex division of the New York Mercantile Exchange.

"Less risk aversion in the marketplace to start the trading week worked against the safe-haven metal today," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A rebound in the U.S. dollar index today was also a daily bearish outside market for the precious metals."

Gold futures ranged from a low of $1,330.60 to a high of $1,344.60. They climbed 1.6% last week, ending Friday at their highest point since Sept. 6, 2016.

Meanwhile, silver for December delivery lost 22.1 cents, or 1.2%, to close at $17.902 an ounce. Silver futures traded between $17.77 and $17.99. They gained 1.7% last week, closing on Friday at their best level since April 19.

In other precious metals prices:

  • October platinum fell $13.50, or 1.3%, to $998.80 an ounce, ranging from $991.60 to $1,008.40.

  • Palladium for December delivery edged up 40 cents to $931.65 an ounce, trading between $928 and $950.

The two metals recorded declines last week ranging from 0.3% for platinum to 4.7% for palladium.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:

  • Gold fell $12.05 or 0.9%, to 1,334.20 an ounce.
  • Silver dropped 36 cents, or 2%, to $17.85 an ounce.

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

Last week in London bullion levels, palladium declined 3.2% while the other metal prices registered increases of 2% for gold, 4.1% for silver, and 1.5% for platinum.

US Mint Bullion Sales in 2017

United States Mint bullion coins logged sales gains of 3,500 ounces in American Gold Eagles and 50,000 ounces in American Silver Eagles.

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 August September YTD
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 2,000 2,000 6,500 4,000 166,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 2,000 0 29,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 0 54,000
$5 American Eagle 1/10 Oz Gold Coin 15,000 0 15,000 15,000 320,000
$50 American Buffalo 1 Oz Gold Coin 0 0 3,000 0 75,000
$1 American Eagle 1 Oz Silver Coin 50,000 25,000 1,025,000 75,000 15,653,500
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* 0 500 39,500 500 40,000

 

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