Gold Marks 1-Week High, Silver Ends at 4-Week Low

by CoinNews.net on November 28, 2017 · 1 comment

Silver coins and silver bullion bar

Silver ended at its worst level since Oct. 31

Precious metals futures ended mixed Tuesday with gold posting a more than one-week high while silver fell to a four-week low.

Gold for December delivery inched up 50 cents, or less than 0.1%, to end at $1,294.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the strongest since Nov. 17.

"Gold held its own and finished near steady Tuesday amid a rally in the competing asset class of equities that saw the U.S. stock indexes push to record highs," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily report.

"World stock markets were also mostly higher Tuesday. The general strength in world equity markets continues to keep quite a bit of investor monies away from the precious metals markets," Wyckoff added.

Gold futures traded from a low of $1,290.10 to a high of $1,297. They advanced 0.6% on Monday.

Elsewhere, silver for December delivery fell 19.8 cents, or 1.2%, to settle at $16.822 an ounce. The close is the weakest since Oct. 31. Silver futures ranged from $16.72 to $17.08. They edged up 0.2% in the previous session.

In rounding out precious metals trading:

  • January platinum added $2, or 0.2%, to $952.80 an ounce, trading between $948.20 and $959.20.

  • Palladium for March delivery jumped $20.15, or 2%, to $1,020.65 an ounce, ranging from $994.80 to $1,023.

London Precious Metals Prices

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

  • Gold declined $3.05, or 0.2%, to 1,291.85 an ounce.
  • Silver lost 3 cents, or 0.2%, to $17.07 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 grew by a combined 2,000 ounces in American Gold Eagles and by 40,000 ounces in American Silver Eagles.

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 1,000 2,000 2,500 11,000 9,500 190,500
$25 American Eagle 1/2 Oz Gold Coin 2,000 0 2,000 2,000 2,000 34,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 2,000 2,000 60,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 30,000 10,000 370,000
$50 American Buffalo 1 Oz Gold Coin 0 0 1,000 7,000 2,000 85,500
$1 American Eagle 1 Oz Silver Coin 40,000 30,000 90,000 1,040,000 385,000 17,323,500
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 1,500 0 N/A 32,400 32,400

{ 1 comment… read it below or add one }

Joe Brown November 28, 2017 at 5:35 pm

Hang 10, record ”’high”’ waves, don*t wipe out your *surfboard until you can walk on to the shoreline. ha ha ha har, wipe out.

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