Gold, Silver Edge Down From 2-Week Highs

by CoinNews.net on December 19, 2017 · 0 comments

Gold Bullion, five bars

Gold futures ended 0.1% lower Tuesday, Dec. 19

Precious metals futures were little changed Tuesday. Platinum and palladium ended higher. Gold and silver settled lower after hitting about two-week highs on Monday.

Gold for February delivery shed $1.30, or 0.1%, to settle at $1,264.20 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold and silver prices were ending the U.S. day session modestly lower Tuesday, on downside corrections and chart consolidation after their recent rallies," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The U.S. dollar index had also recovered some of its earlier losses in midday trading, which was a mildly bearish element for the precious metals markets."

Gold futures traded from a low of $1,263.30 to a high of $1,268.60. They rose 0.6% on Monday, ending at their highest level since Dec. 6.

Elsewhere, silver for March delivery declined 5.2 cents, or 0.3%, to close at $16.153 an ounce. Silver futures ranged from $16.14 to $16.22. They rose 0.9% on Monday to settle at their highest price since Dec. 4.

In other precious metals prices:

  • January platinum edged up 90 cents, or 0.1%, to $914.10 an ounce, trading between $904.90 and $917.60.

  • Palladium for March delivery tacked on $6.55, or 0.7%, to $1,018.60 an ounce, ranging from $1,010.40 to $1,016.75.

London Precious Metals Prices

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

  • Gold dipped 25 cents, or less than 0.1%, to 1,260.35 an ounce.
  • Silver added 6.5 cents, or 0.4%, to $16.155 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 2:22 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 November December 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 28,000 7,500 9,500 35,500 226,000
$25 American Eagle 1/2 Oz Gold Coin 0 3,000 0 2,000 3,000 37,000
$10 American Eagle 1/4 Oz Gold Coin 0 4,000 0 2,000 4,000 64,000
$5 American Eagle 1/10 Oz Gold Coin 0 15,000 0 10,000 25,000 395,000
$50 American Buffalo 1 Oz Gold Coin 0 10,500 2,000 2,000 13,500 99,000
$1 American Eagle 1 Oz Silver Coin 0 622,000 0 385,000 742,000 18,065,500
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 0 0 32,400 0 32,400

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