Gold Slips 0.5%, Silver Drops 1.7%

by CoinNews.net on November 7, 2017 · 0 comments

gold bars, $100s and $50

Losses in precious metals ranged from 0.1% for palladium to 1.7% for silver

Precious metals futures declined Tuesday. Gold dropped from an almost three-week high, pressured by gains in the U.S. dollar.

Gold for December delivery shed $5.80, or 0.5%, to settle at $1,275.80 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is actually showing some resiliency here, holding to its recent range in the face of new 15-week highs in the dollar index," MarketWatch quoted Peter Grant, chief market analyst with gold broker USAGOLD.

The dollar’s strength, however, is "limiting the upside for gold, amid persistent expectations of further monetary policy divergence," he said.

Gold futures traded from a low of $1,272.30 to a high of $1,282.80. They gained 1% in their start to the week on Monday, closing at their highest price since Oct. 19.

Elsewhere, silver for December delivery fell 29.5 cents, or 1.7%, to settle at $16.94 an ounce. Silver futures ranged from $16.92 to $17.24. They jumped 2.4% on Monday.

In other precious metals futures:

  • January platinum declined $9.70, or 1%, to $925.30 an ounce, trading between $922 and $937.90.

  • Palladium for December delivery slipped $1, or 0.1%, to $994.10 an ounce, ranging from $990.65 and $1,000.

London Precious Metals Prices

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

  • Gold gained $4.70, or 0.4%, to 1,275.60 an ounce.
  • Silver rose 9 cents, or 0.5%, to $17.005 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 2:53 p.m. 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 October November 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 0 0 15,000
$50 American Eagle 1 Oz Gold Coin 0 2,000 1,500 11,000 2,500 183,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 2,000 0 32,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 0 58,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 0 30,000 0 360,000
$50 American Buffalo 1 Oz Gold Coin 0 1,500 500 7,000 500 84,000
$1 American Eagle 1 Oz Silver Coin 0 40,000 90,000 1,040,000 90,000 17,028,500
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

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