Gold and Silver Decline Slightly Wed., Nov. 15

by CoinNews.net on November 15, 2017 · 0 comments

9999 Gold Bar and American Gold Eagle Bullion Coins

Platinum gained while gold, silver and palladium futures declined

Precious metals futures in the mid-week trading session Wednesday logged fairly modest changes that ranged from a loss of 0.6% for silver to an advance of 0.6% for platinum.

Gold for December delivery declined $5.20, or 0.4%, to settle at $1,277.70 an ounce on the Comex division of the New York Mercantile Exchange.

Gold futures ranged from a low of $1,279 to a high of $1,290. They settled up 0.3% on Tuesday and advanced 0.4% in starting the week on Monday.

"The gold and silver markets saw overnight and early-U.S. gains evaporate Wednesday when the U.S. dollar index bounced off its daily low after suffering solid losses overnight," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

"A batch of important U.S. economic reports released earlier today provided a brief lift to precious metals prices. However, the greenback’s bearish influence proved too strong on this day," Wyckoff noted.

Earlier Wednesday, the Labor Department said consumer prices edged up 0.1% in October and year-over-year inflation eased to 2% from 2.2% previously.

Silver for December delivery dropped 10.2 cents to settle at $16.971 an ounce. Silver futures traded between $16.95 and $17.21. They rose 0.2% in the previous session and moved up 1% on Monday.

In PGM futures on Wednesday:

  • January platinum added $5.80 to $933.10 an ounce, ranging from $927.50 to $941.50.

  • Palladium for December delivery dipped 45 cents, or less than 0.1%, to $985.10 an ounce, trading between $973.55 and $989.30.

London Precious Metals Prices

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

  • Gold gained $7.60, or 0.6%, to 1,282.20 an ounce.
  • Silver added 18 cents, or 1.1%, to $17.115 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 4:01 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)
Wednesday 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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