Gold and Silver Prices Little Changed Thurs., Nov. 2

by CoinNews.net on November 2, 2017 · 0 comments

6 gold bars

Precious metals futures logged narrow changes that ranged from a loss of 1% for platinum to an advance of less than 0.1% for gold

Precious metals futures were mostly little changed Thursday. Gold was alone with gains, rising less than 0.1%.

Gold for December delivery inched up 80 cents to settle at $1,278.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Right now, we see prices supported above $1,270 until perhaps a week from now. But beyond that, when the Fed meets in December, we expect one more rate hike," Reuters quoted OCBC analyst Barnabas Gan. "On that note, we are still bearish on gold and expect prices to touch $1,250 at year-end, underpinned by the rate hike."

Gold futures traded from a low of $1,274 to a high of $1,282.50. They climbed 0.5% on Wednesday, declined 0.6% on Tuesday — ending the month of October 1.1% lower, and rose 0.5% on Monday.

Silver for December delivery shed 3.9 cents, or 0.2%, to settle at $17.137 an ounce. Silver futures ranged between $17.07 and $17.23. They rallied 2.9% on Wednesday — closing at their highest price since Oct. 19, declined 0.9% on Tuesday and gained 0.6% on Monday.

In other precious metals futures on Thursday:

  • January platinum dropped $8.90, or 1%, to $927.80 an ounce, trading between $930.70 and $937.90.

  • Palladium for December delivery lost $4.15, or 0.4%, to $994 an ounce, ranging from $988 to $1,003.80.

London Precious Metals Prices

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

  • Gold rose $2.15, or 0.2%, to 1,279.20 an ounce.
  • Silver added 14 cents, or 0.8%, to $17.08 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 2:24 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)
Thursday / November Last Week This Week October YTD
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 20,000
$25 American Eagle 1 Oz Palladium Coin* 0 0 0 0 15,000
$50 American Eagle 1 Oz Gold Coin 0 2,000 1,000 11,000 181,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 2,000 32,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 58,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 5,000 30,000 360,000
$50 American Buffalo 1 Oz Gold Coin 0 1,000 1,500 7,000 83,500
$1 American Eagle 1 Oz Silver Coin 0 250,000 40,000 1,040,000 16,938,500
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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