Gold Posts Second Consecutive Gain Thursday, Sept. 6

by CoinNews.net on September 6, 2018 · 0 comments

One gold bullion bar and graph

Gold futures rose 0.3% on Thursday, Sept. 6

Most precious metals futures advanced Thursday. Gold futures climbed for a second straight session but silver finished down toward a more than two-and-a-half year low.

Gold for December delivery added $3, or 0.3%, to settle at $1,204.30 an ounce on the Comex division of the New York Mercantile Exchange.

"I don’t expect a sharp move from either gold or the dollar. I think we’ll be stuck here for a little while, barring any major event," Reuters quoted Chris Gaffney, president of world markets at TIAA Bank.

Gold futures ranged from a low of $1,200.50 to a high of $1,212.70. They rose 0.2% on Wednesday and fell 0.6% on Tuesday — ending at their lowest point since Aug. 23.

Elsewhere, silver for December delivery climbed 3.9 cents, or nearly 0.3%, to finish at $14.181 an ounce. Silver futures traded between $14.13 and $14.34. They gained 0.3% on Wednesday and dropped 2.6% on Tuesday — marking their lowest settlement since Jan. 22, 2016.

In other precious metals futures prices on Thursday:

  • October platinum tacked on $6.60, or 0.8%, to $790.90 an ounce, ranging from $781 to $796.30.

  • Palladium for December delivery edged up 90 cents, or less than 0.1%, to $962.10 an ounce, trading between $959 and $974.70.

London Precious Metals Prices

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

  • Gold rose $8.45, or 0.7%, to 1,205.15 an ounce.
  • Silver added 9.5 cents, or 0.7%, to $14.265 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

American Silver Eagles were alone with bullion gains Thursday, U.S. Mint figures show. The silver coins jumped 637,500, resulting in the Mint temporarily running out of them.

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

US Mint Bullion Sales (# of coins)
Thursday Last Week July Week / September 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 30,000
$50 American Eagle 1 Oz Gold Coin 0 4,000 31,500 3,500 140,000
$25 American Eagle 1/2 Oz Gold Coin 0 2,000 1,000 1,000 23,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 2,000 2,000 56,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 25,000 20,000 180,000
$50 American Buffalo 1 Oz Gold Coin 0 2,000 24,500 0 98,000
$1 American Eagle 1 Oz Silver Coin 637,500 350,000 885,000 1,037,500 10,275,000
Pictured Rocks 5 Oz Silver Coin 0 0 0 0 30,000
Apostle Islands 5 Oz Silver Coin 0 0 0 0 30,000
Voyageurs 5 Oz Silver Coin 0 0 0 0 30,000

 

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