Gold, Silver and Platinum End Three-Session Losing Streaks

by CoinNews.net on October 19, 2017 · 1 comment

closeup of gold bullion

Precious metals futures mostly climbed Thursday, Oct. 19

Gold, silver, and platinum futures closed higher on Thursday for the first time since the end of last week. Palladium, however, extended its losing streak to four straight sessions — though barely.

Gold for December delivery advanced $7, or 0.5%, to settle at $1,290 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold and silver prices ended the U.S. day session higher Thursday, on a corrective bounce from selling pressure seen earlier this week," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A weaker U.S. dollar index and a downturn in world stock markets were supportive daily elements for the metals markets."

Gold futures traded from a low of $1,277.60 to a high of $1,292. They slipped 0.2% in the previous session — ending at their lowest price since Oct. 6, declined 1.3% on Tuesday, and dipped 0.1% on Monday.

Silver for December delivery jumped 25.8 cents, or 1.5%, to settle at $17.255 an ounce. Silver futures ranged from $16.93 to $17.30. They shed 0.3% on Wednesday — finishing at their weakest point since Oct. 9, lost 1.9% on Tuesday, and fell 0.2% on Monday.

In other precious metals futures prices:

  • January platinum added $1.30, or 0.1%, to $925.90 an ounce, trading between $920 and $931.50.

  • Palladium for December delivery edged down 15 cents, or less than 0.1%, to $952.80 an ounce, ranging from $943.10 to $962.35.

London Precious Metals Prices

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

  • Gold rose $6.20, or 0.5%, to 1,286.40 an ounce.
  • Silver rose 7.5 cents, or 0.4%, to $17.025 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)
Thursday 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 3,000 8,000 8,000 178,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 1,000 2,000 32,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 2,000 58,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 25,000 25,000 355,000
$50 American Buffalo 1 Oz Gold Coin 0 1,000 1,500 4,500 81,000
$1 American Eagle 1 Oz Silver Coin 0 150,000 320,000 750,000 16,648,500
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

 

{ 1 comment… read it below or add one }

Seth Riesling October 20, 2017 at 8:48 am

Palladium is $45 above platinum this morning on Friday, October 20. Amazing! How high can it go? To it’s 2001 high of about $1075 maybe?

-NumisdudeTX

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