Precious Metals Rise on Columbus Day

by CoinNews.net on October 9, 2017 · 0 comments

Gold and Silver Bullion - Bars and Coins

Precious metals advanced Monday, registering increases ranging from 0.2% for platinum to 1.1% for silver

Precious metals futures advanced on Columbus Day, with gold and silver scoring consecutive gains of two and three sessions, respectively.

Gold for December delivery tacked on $10.10, or 0.8%, to settle at $1,285 an ounce on the Comex division of the New York Mercantile Exchange.

Gold and silver prices were "boosted by short covering in the futures markets and by some safe-haven buying interest amid stepped-up geopolitical worries," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

Gold futures ranged from a low of $1,277.70 to a high of $1,288. They shed 0.8% last week for their fourth straight weekly decline.

Elsewhere, silver for December delivery added 18.1 cents, or 1.1%, to settle at $16.971 an ounce. Silver futures traded between $16.76 and $17.03. They climbed 0.7% last week.

In other precious metals futures prices on Monday:

  • January platinum gained $1.50, or 0.2%, to $918.20 an ounce, ranging from $914.50 to $925.

  • Palladium for December delivery rose $9, or 1%, to $928 an ounce, trading between $918.55 and $929.80.

Last week, platinum inched up 0.1% and palladium dropped 1.9%.

London Precious Metals Prices

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

  • Gold rose $16.95, or 1.3%, to 1,278.75 an ounce.
  • Silver added 29.5 cents, or 1.8%, to $16.92 an ounce.

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

Last week in London bullion prices, palladium rose 1.4% while the others logged declines of 1.7% for gold, 1.4% for silver, and 1% for platinum.

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)
Monday Last Week September October YTD
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 20,000
$25 American Eagle 1 Oz Palladium Coin* 0 0 15,000 0 15,000
$50 American Eagle 1 Oz Gold Coin 0 2,500 8,000 2,500 172,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 1,000 1,000 31,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 0 56,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 25,000 5,000 335,000
$50 American Buffalo 1 Oz Gold Coin 0 1,000 1,500 1,000 77,500
$1 American Eagle 1 Oz Silver Coin 0 150,000 320,000 150,000 16,048,500
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 0 0 0 40,000

 

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