Gold Gains for Fifth Session, Palladium Logs New Record

by CoinNews.net on January 17, 2018 · 0 comments

US Dollars and Gold Bullion Bars

Gold gained again Wed., Jan. 17, as the U.S. dollar fell

Gold futures lifted their winning sessions to five in row Wednesday, and settled a new, more than four-month high.

Gold for February delivery rose $2.10, or 0.2%, to end at $1,339.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was again the highest since Sept. 8 when prices finished at $1,351.20 an ounce.

"Some minor profit-taking early saw gold traders then step in to buy the dip when the U.S. dollar index could not hold its early gains and dropped to a 3.5-year low," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily report.

Gold futures traded between $1,326.60 and $1,344.50. They also climbed 0.2% in their start to the trading week on Tuesday.

Silver for March delivery shed 2.3 cents, or 0.1%, to settle at $17.166 an ounce. Silver futures ranged from $16.98 to $17.31. They ended 0.3% higher on Tuesday.

In PGM futures on Wednesday:

  • April platinum gained $6, or 0.6%, to $1,010.90 an ounce, trading between $1,002.20 and $1,012.90.

  • Palladium for March delivery tacked on $21.55, or 2%, to $1,109.70 an ounce, ranging from $1,089.20 to $1,113.95. The close was a new all-time high.

Last week, the two metals each advanced 2.2%.

London Precious Metals Prices

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

  • Gold added $1.80, or 0.1%, to $1,335.65 an ounce.
  • Silver added 11.5 cents, or 0.7%, to $17.21 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

United States Mint bullion sales were unchanged Wednesday. Below is a sales breakdown of U.S. bullion products with columns listing the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
Wednesday Last Week This Week December 2017 Sales 2018 Sales
$50 American Eagle 1 Oz Gold Coin 0 27,000 2,500 38,000 228,500 29,500
$25 American Eagle 1/2 Oz Gold Coin 0 12,000 2,000 3,000 37,000 14,000
$10 American Eagle 1/4 Oz Gold Coin 0 24,000 0 4,000 64,000 24,000
$5 American Eagle 1/10 Oz Gold Coin 0 60,000 5,000 25,000 395,000 65,000
$50 American Buffalo 1 Oz Gold Coin 0 18,500 2,000 14,000 99,500 20,500
$1 American Eagle 1 Oz Silver Coin 0 2,520,000 250,000 742,000 18,065,500 2,770,000

{ 0 comments… add one now }

Leave a Comment