Gold, Silver and Other Metals Rebound Tue., Nov. 21

by CoinNews.net on November 21, 2017 · 0 comments

Shelves of gold bullion bars

Advances in precious metals ranged from 0.5% for gold to 1.6% for platinum

Precious metals futures recovered at least a portion of their prior-day losses Tuesday as the U.S. dollar retreated.

Gold for December delivery picked up $6.40, or 0.5%, to settle at $1,281.70 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold collapsed like a house of cards during Monday’s trading session, with prices dipping below $1,275 [intraday] thanks to a strengthening U.S. dollar," MarketWatch quoted Lukman Otunuga, research analyst at FXTM.

"Although renewed political uncertainty in Europe is likely to support the flight to safety, it seems gold investors may be more concerned with the value of the dollar," he said.

Gold futures ranged from a low of $1,275.80 to a high of $1,284.50. They dropped 1.6% in their start to the week on Monday.

Silver for December delivery gained 11.8 cents, or 0.7%, to settle at $16.96 an ounce. Silver futures traded between $16.88 and $17.04. They sank 3.1% on Monday.

In rounding out precious metals futures:

  • January platinum rose $14.40, or 1.6%, to $938 an ounce, ranging from $924.80 to $940.40.

  • Palladium for December delivery added $10.40, or 1.1%, to $996.50 an ounce, trading between $983.80 and $999.

London Precious Metals Prices

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

  • Gold declined $2.90, or 0.2%, to 1,283.30 an ounce.
  • Silver fell 14.5 cents, or 0.9%, to $17 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 3:07 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 2,500 2,000 11,000 7,000 188,000
$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 10,000 0 30,000 10,000 370,000
$50 American Buffalo 1 Oz Gold Coin 0 500 0 7,000 1,000 84,500
$1 American Eagle 1 Oz Silver Coin 0 175,000 30,000 1,040,000 295,000 17,233,500
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 30,900 1,500 N/A 32,400 32,400

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