Precious Metals Decline Monday, Dec. 4

by CoinNews.net on December 4, 2017 · 0 comments

Gold Bullion and US Money

Losses in metals ranged from about 0.1% for silver to 2.4% for palladium

Precious metals declined on Monday as stocks and the U.S. dollar gained. Gold lost most of its prior-session gain while silver extended its losing streak to four sessions in a row.

Gold for February delivery declined $4.60, or 0.4%, to settle at $1,277.70 an ounce on the Comex division of the New York Mercantile Exchange.

"In the early hours of Saturday morning, the U.S. Senate then passed a tax reform bill that envisages extensive tax cuts," Bloomberg News quoted at Commerzbank AG including Eugen Weinberg said in an emailed note. "Market participants regained their risk appetite as a result, so the gold price fell accordingly."

Gold futures traded from a low of $1,273.50 to a high of $1,280.50. They dipped 0.4% last week.

Silver for March delivery shed 1.5 cents, or nearly 0.1%, to close at $16.373 an ounce. The settlement remains the weakest since Aug. 7 when prices ended at $16.251 an ounce. Silver futures ranged from $16.26 to $16.46. They tumbled 3.6% last week.

In rounding out precious metals action:

  • January platinum dropped $14.60, or 1.6%, to $926 an ounce, trading between $924.30 and $939.20.

  • Palladium for March delivery sank $24.50, or 2.4%, to $991.75 an ounce, ranging from $988.50 to $1,017.15.

Last week, platinum declined 0.5% and palladium jumped 2.3%.

London Precious Metals Prices

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

  • Gold declined $2.05, or 0.2%, to 1,273.45 an ounce.
  • Silver fell 9 cents, or 0.6%, to $16.33 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

Last week in London bullion prices, gold declined 1.2%, silver fell 3.7%, platinum shed 0.1%, and palladium gained 1.5%.

US Mint Bullion Sales in 2017

United States Mint bullion sales advanced by a combined 2,000 ounces in American Eagle and Buffalo gold coins and by 110,000 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)
Monday Last Week November December YTD
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 20,000
$25 American Eagle 1 Oz Palladium Coin* 0 0 0 0 15,000
$50 American Eagle 1 Oz Gold Coin 0 2,500 9,500 0 190,500
$25 American Eagle 1/2 Oz Gold Coin 0 2,000 2,000 0 34,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 2,000 0 60,000
$5 American Eagle 1/10 Oz Gold Coin 10,000 0 10,000 10,000 380,000
$50 American Buffalo 1 Oz Gold Coin 1,000 1,000 2,000 1,000 86,500
$1 American Eagle 1 Oz Silver Coin 110,000 90,000 385,000 110,000 17,433,500
2017 Effigy Mounds 5 Oz Silver Coin 0 0 0 0 35,000
2017 Frederick Douglass 5 Oz Silver Coin 0 0 0 0 20,000
2017 Ozark Riverways 5 Oz Silver Coin 0 0 0 0 20,000
2017 Ellis Island 5 Oz Silver Coin* 0 0 0 0 40,000
2017 George Rogers Clark 5 Oz Silver Coin 0 0 32,400 0 32,400

 

This article was edited to included updated U.S. Mint bullion figures.

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