Gold Edges 50 Cents Higher, Silver Rises 10.1 Cents

by CoinNews.net on November 16, 2017 · 0 comments

One Gold Bar

Precious metals futures ended little changed Thursday, Nov. 16

Thursday marked another day of very modest movements in precious metals prices. Palladium and gold were near unchanged while platinum rose 0.3% and silver climbed 0.6%.

Gold for December delivery added 50 cents, or less than 0.1%, to settle at $1,278.20 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices ended the U.S. day session near unchanged in lackluster, two-sided dealings Thursday. There have been no significant news developments recently to drive the precious metals markets," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "That has left gold and silver to be more influenced by the daily price action in the U.S. dollar index."

Gold futures ranged from a low of $1,274.90 to a high of $1,281.80. They slipped 0.4% on Wednesday, settled up 0.3% on Tuesday, and gained 0.4% in starting the week on Monday.

Silver for December delivery advanced 10.1 cents to settle at $17.072 an ounce. Silver futures traded between $16.94 and $17.13. They dropped 0.6% in the previous session, gained 0.2% on Tuesday, and moved up 1% on Monday.

In other precious metals futures prices:

  • January platinum added $3.10 to $936.20 an ounce, ranging from $930.40 to $937.30.

  • Palladium for December delivery dipped 25 cents, or less than 0.1%, to $984.85 an ounce, trading between $978.50 and $988.65.

London Precious Metals Prices

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

  • Gold declined $2.20, or 0.2%, to 1,280 an ounce.
  • Silver lost 7.5 cents, or 0.4%, to $17.04 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. 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 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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