Gold and Silver Return to 2-Week Highs

by CoinNews.net on December 20, 2017 · 0 comments

10 Oz Fine Gold Bar

Advances in precious metals futures ranged from 0.4% for gold to 0.8% for silver and platinum

Precious metals advanced as a group Wednesday. Gains in gold and silver brought them back to more than two-week high settlements.

Gold for February delivery gained $5.40, or 0.4%, to end at $1,269.60 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Dec. 4.

"The dollar-denominated precious metal has found support from various sources, chief among them is the dollar, which has weakened against a number of currencies amid the lack of any significant news to support it," MarketWatch quoted Fawad Razaqzada, technical analyst at Forex.com.

Gold futures traded from a low of $1,264.40 to a high of $1,271.40. They dipped 0.1% on Tuesday and climbed 0.6% on Monday.

Meanwhile, silver for March delivery tacked on 12.2 cents, or 0.8%, to finish at $16.275 an ounce. The close is also the highest since Dec. 4. Silver futures ranged from $16.15 to $16.32. They declined 0.3% on Tuesday and gained 0.9% on Monday.

In PGM futures on Wednesday:

  • January platinum moved up $7.40, or 0.8%, to $921.50 an ounce, trading between $910.90 and $925.

  • Palladium for March delivery added $6, or 0.6%, to $1,024.60 an ounce, ranging from $1,015 to $1,028.90.

London Precious Metals Prices

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

  • Gold rose $4.20, or 0.3%, to 1,264.55 an ounce.
  • Silver added 3 cents, or 0.2%, to $16.185 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 advanced by a combined 1,000 ounces in gold coins. 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)
Wednesday 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 500 28,000 8,000 9,500 36,000 226,500
$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 500 10,500 2,500 2,000 14,000 99,500
$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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