Gold and Silver Rise Following Two Days of Declines

by CoinNews.net on January 10, 2018 · 0 comments

Staggered gold bars

Gold, silver and platinum closed higher Wednesday while palladium fell from a record high

Gold futures registered their first increase in three sessions Wednesday. The precious metal before this week scored eleven straight session advances.

Gold for February delivery rose $5.60, or 0.4%, to settle at $1,319.30 an ounce on the Comex division of the New York Mercantile Exchange.

"Safe-haven demand for the yellow metal was featured amid a rise in world government bond yields that troubled the marketplace," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A lower U.S. dollar index on this day also provided support to the precious metals."

Gold futures traded from a low of $1,308.90 to a high of $1,328.60. They declined 0.5% on Tuesday and slipped 0.1% in starting the trading week on Monday.

Silver for March delivery added 2.5 cents, or 0.2%, to settle at $17.035 an ounce. Silver futures ranged from $16.93 to $17.22. They fell 0.8% on Tuesday and on Monday.

In PGM futures on Wednesday:

  • April platinum moved up $6.50, or 0.7%, to $978.80 an ounce, trading between $962.30 and $979.20.

  • Palladium for March delivery tumbled $20.75, or 1.9%, to $1,077.40 an ounce, ranging from $1,077 to $1,098.15. They closed at a new all-time high in the previous session.

London Precious Metals Prices

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

  • Gold rose $8.75, or 0.7%, to $1,319.75 an ounce.
  • Silver added 8 cents, or 0.5%, to $17.135 an ounce.

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

US Mint Bullion Sales in 2018

U.S. Mint bullion sales logged gains of 7,000 ounces in American Gold Eagles; 2,500 ounces in American Gold Buffalos; and by 25,000 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)
Wednesday Sales Last Week This Week December 2017 Sales 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 20,000 0
$25 American Eagle 1 Oz Palladium Coin* 0 0 0 0 15,000 0
$50 American Eagle 1 Oz Gold Coin 3,500 0 23,000 38,000 228,500 23,000
$25 American Eagle 1/2 Oz Gold Coin 2,000 0 11,000 3,000 37,000 11,000
$10 American Eagle 1/4 Oz Gold Coin 6,000 0 24,000 4,000 64,000 24,000
$5 American Eagle 1/10 Oz Gold Coin 10,000 0 55,000 25,000 395,000 55,000
$50 American Buffalo 1 Oz Gold Coin 2,500 0 15,500 14,000 99,500 15,500
$1 American Eagle 1 Oz Silver Coin 25,000 0 2,520,000 742,000 18,065,500 2,520,000
2017 Effigy Mounds 5 Oz Silver Coin 0 0 0 0 35,000 0
2017 Frederick Douglass 5 Oz Silver Coin 0 0 0 0 20,000 0
2017 Ozark Riverways 5 Oz Silver Coin 0 0 0 0 20,000 0
2017 Ellis Island 5 Oz Silver Coin* 0 0 0 0 40,000 0
2017 George Rogers Clark 5 Oz Silver Coin 0 0 0 0 32,400 0

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