Gold Declines, Silver Settles at 6-Week Low

by CoinNews.net on September 26, 2017 · 2 comments

2 Silver Bullion Bars

Silver futures declined 1.5% on Tuesday, Sept. 26

Most precious metals traded lower Tuesday, reversing course from their start to the week on Monday. Gold gave back a good portion of the prior day’s gains while silver closed at a six-week low.

Gold for December delivery declined $9.80, or 0.8%, to settle at $1,301.70 an ounce on the Comex division of the New York Mercantile Exchange.

"A little recovery in (U.S. Treasury) yields, along with a stronger dollar has pressured gold. And the risk-averse trading from yesterday is easing off," Reuters quoted James Steel, chief metals analyst at HSBC Securities in New York.

Gold futures traded from a low of $1,296.60 to a high of $1,317.10. They advanced 1.1% on Monday.

Silver for December delivery dropped 26.4 cents, or 1.5%, to settle at $16.883 an ounce. The settlement is the weakest since Aug. 15 when prices closed at $16.714 an ounce. Silver futures ranged between $16.81 and $17.30. They rose 1% in their start to the week on Monday.

In other precious metals futures:

  • October platinum fell $15.50, or 1.7%, to $924.70 an ounce, trading between $923 and $945.90.

  • Palladium for December delivery settled up $4.75, or 0.5%, to $914.45 an ounce, ranging from $907.65 to $917.65.

London Precious Metals Prices

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

  • Gold added $6.75, or 0.5%, to 1,300.05 an ounce.
  • Silver added 6 cents, or 0.4%, to $17.01 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. 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 August September YTD
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 20,000
$25 American Eagle 1 Oz Palladium Coin 0 N/A 15,000 N/A 15,000 15,000
$50 American Eagle 1 Oz Gold Coin 0 2,000 2,000 6,500 8,000 170,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 2,000 1,000 30,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 2,000 2,000 56,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 5,000 15,000 25,000 330,000
$50 American Buffalo 1 Oz Gold Coin 0 1,500 0 3,000 1,500 76,500
$1 American Eagle 1 Oz Silver Coin 0 50,000 195,000 1,025,000 320,000 15,898,500
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 0 0 40,000 0 40,000

 

{ 2 comments… read them below or add one }

Seth Riesling September 27, 2017 at 11:20 am

Palladium is only $8 less per ounce than platinum right now on Wednesday afternoon!

-NumisdudeTX

Seth Riesling September 27, 2017 at 12:10 pm

Palladium is now trading at $3 per ounce more than platinum! Wonder if it will close today above platinum at end of trading?

-NumisdudeTX

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