Gold and Silver Log Almost 3-Week Lows

by CoinNews.net on October 24, 2017 · 1 comment

Three 250g fine gold bars

Gold declined 0.2% on Tuesday, Oct. 24, while silver shed 0.6%

Gold and silver futures ended modestly lower Tuesday. Both settled near three-week lows as investors looked more toward stocks and less at safe-havens.

Gold for December delivery declined $2.60, or 0.2%, to finish at $1,278.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the lowest since Oct. 6 when prices ended at $1,274.90 an ounce.

"Gold has been volatile this year and the outlook remains as clear as mud," MarketWatch quoted Tyler Richey, co-editor of the Sevens Report. "There are still many unknowns, such as will the next Fed chair be dovish or hawkish, and will tax cuts actually get done," he said.

Gold futures traded from a low of $1,276.80 to a high of $1,285.30. They edged up 40 cents in their start to the week on Monday

Ending down for a third straight session, silver for December delivery dropped 10.9 cents, or 0.6%, to settle at $16.966 an ounce. The close is also the weakest since Oct. 6 when the precious metal ended at $16.79 an ounce. Silver futures ranged from $16.99 to $17.17. They dipped less than a half cent in the previous session.

In other metals action on Tuesday:

  • January platinum declined $1.70, or 0.2%, to $925.50 an ounce, trading between $921.90 and $932.70.

  • Palladium for December delivery bounced $11.25, or 1.2%, to $961.20 an ounce, ranging from $950.70 to $963.35.

London Precious Metals Prices

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

  • Gold gained $1.55, or 0.1%, to 1,276.45 an ounce.
  • Silver rose 4 cents, or 0.2%, to $17.035 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 2:31 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)
Tuesday Last Week This Week September October YTD
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 20,000
$25 American Eagle 1 Oz Palladium Coin* 0 0 0 15,000 0 15,000
$50 American Eagle 1 Oz Gold Coin 0 2,500 2,000 8,000 10,000 180,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 2,000 32,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 2,000 2,000 58,000
$5 American Eagle 1/10 Oz Gold Coin 0 20,000 0 25,000 25,000 355,000
$50 American Buffalo 1 Oz Gold Coin 0 2,500 0 1,500 4,500 81,000
$1 American Eagle 1 Oz Silver Coin 0 450,000 175,000 320,000 925,000 16,823,500
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 0 0 40,000

 

{ 1 comment… read it below or add one }

eric October 25, 2017 at 7:37 am

welcome back

Leave a Comment