Gold and Silver Advance, Platinum and Palladium Retreat

by CoinNews.net on November 14, 2017 · 0 comments

gold bars and scale weighing gold bars

Gold futures climbed 0.3% on Tuesday, Nov. 14

Precious metals were mixed Tuesday with gold and silver higher and platinum and palladium lower. Daily gains in gold and silver were their second in a row.

Gold for December delivery gained $4, or 0.3%, to settle at $1,282.90 an ounce on the Comex division of the New York Mercantile Exchange.

"A hotter-than-expected U.S. October producer price index released this morning pushed gold and silver prices to their daily lows," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note.

"However, in late morning action the U.S. dollar index and U.S. stock indexes started to slide, and then gold and silver prices quickly moved up from their daily lows."

Gold futures ranged from a low of $1,269.70 to a high of $1,283.80. They advanced 0.4% in starting the week on Monday.

Meanwhile, silver for December delivery added 2.6 cents, or 0.2%, to settle at $17.073 an ounce. Silver futures traded between $16.86 and $17.10. They moved up 1% in the previous session.

In rounding out precious metals futures action:

  • January platinum fell $8.30, or 0.9%, to $927.30 an ounce, ranging from $923 to $935.70.

  • Palladium for December delivery dropped $4.15, or 0.4%, to $985.55 an ounce, trading between $973.25 and $997.25.

London Precious Metals Prices

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

  • Gold declined $3.35, or 0.3%, to 1,274.60 an ounce.
  • Silver added a penny, or less than 0.1%, to $16.935 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

U.S. Mint bullion sales were unchanged as of 3:44 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 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 1,500 2,500 11,000 5,000 186,000
$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 0 10,000 30,000 10,000 370,000
$50 American Buffalo 1 Oz Gold Coin 0 500 500 7,000 1,000 84,500
$1 American Eagle 1 Oz Silver Coin 0 90,000 175,000 1,040,000 265,000 17,203,500
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
2017 George Rogers Clark 5 Oz Silver Coin* 0 N/A 30,900 N/A 30,900 30,900

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