Gold and Silver Edge Lower for Third Straight Day

by CoinNews.net on September 13, 2017 · 1 comment

999.9 gold bullion, three bars

Losses in precious metals futures ranged from 0.1% for silver to 1% for palladium

Precious metals futures moved lower Wednesday, with gold and silver extending their losses to three consecutive days.

Gold for December delivery lost $4.70, or 0.4%, to settle at $1,328 an ounce on the Comex division of the New York Mercantile Exchange.

"Some more profit-taking pressure from recent gains was featured. Also, a solid bounce in the U.S. dollar index today pressured the precious metals markets," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

Gold futures ranged from a low of $1,324.50 to a high of $1,340.50. They shed 0.2% in the previous session and declined 1.1% in their start to the trading week on Monday. On Friday, they ended at $1,351.20 an ounce for their highest settlement since Sept. 6, 2016.

Silver for December delivery dipped 2.3 cents, or 0.1%, to settle at $17.867 an ounce. Silver futures traded between $17.72 and $18.13. They declined less than 0.1% on Tuesday and slipped 1.2% on Monday. They closed on Friday at their strongest price since April 19.

In PGM futures on Wednesday:

  • October platinum fell $3.30, or 0.3%, to $983.20 an ounce, ranging from $979.50 to $994.00.

  • Palladium for December delivery declined $9.70, or 1%, to $933.700 an ounce, trading between $931.80 and $950.

London Precious Metals Prices

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

  • Gold added $1.05 or 0.08%, to 1,327.55 an ounce.
  • Silver added 16 cents, or 0.9%, to $17.91 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 3:51 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)
Wednesday Last Week This Week August September YTD
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 0 2,000 2,000 6,500 4,000 166,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 2,000 0 29,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 0 54,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 15,000 15,000 15,000 320,000
$50 American Buffalo 1 Oz Gold Coin 0 0 0 3,000 0 75,000
$1 American Eagle 1 Oz Silver Coin 0 25,000 50,000 1,025,000 75,000 15,653,500
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* 0 500 0 39,500 500 40,000

 

{ 1 comment… read it below or add one }

Joe Brown September 13, 2017 at 6:30 pm

let the dust settle ah bit.

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