Gold Rises, Silver Marks Another 31.5-Month Low

by CoinNews.net on September 11, 2018 · 0 comments

Silver bullion bars,5.45 oz

Silver futures ended at their lowest level since Jan. 22, 2016

Gold was by itself in gains Tuesday among precious metals, for its first increase in three sessions. Silver, meanwhile, ended at another more than two-and-a-half year low.

Gold for December delivery rose $2.40, or 0.2%, to settle at $1,202.20 an ounce on the Comex division of the New York Mercantile Exchange.

"Some investors see below $1,200 as a small window to buy, because historically we haven’t seen gold remain below $1,200 since late December 2016, even though I think it’s going to go down to match those previous lows," Reuters quoted Phil Streible, senior commodities strategist at RJO Futures in Chicago.

Gold futures ranged from a low of $1,192.70 to a high of $1,203. They dipped less than 0.1% on Monday.

Silver for December delivery declined 2.8 cents, or 0.2%, to settle at $14.153 an ounce. The settlement is the lowest since Jan. 22, 2016 when prices ended at $14.057 an ounce. Silver futures traded between $13.96 and $14.27. They lost less than 0.1% on Monday.

In rounding out precious metals futures prices on Tuesday:

  • October platinum fell 70 cents, or less than 0.1%, to $789.30 an ounce, ranging from $781.10 to $794.10.

  • Palladium for December delivery declined $2.80, or 0.3%, to $961.80 an ounce, trading between $954 and $970.70.

London Precious Metals Prices

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

  • Gold declined $6.75, or 0.6%, to 1,189.85 an ounce.
  • Silver fell 9 cents, or 0.6%, to $14.125 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 advanced by a combined 2,500 ounces in gold coins and by 100,000 ounces in silver coins.

Photo of Clad 2018-S Proof Cumberland Island National Seashore Quarter - Reverse

A CoinNews photo of a Cumberland Island quarter. The U.S. Mint started accepting orders for its 5-ounce Cumberland Island America the Beautiful Silver Bullion Coin. It shares the quarter’s designs.

The two smallest sized American Gold Eagles accounted for all the gold sales while the Cumberland Island 5-ounce America the Beautiful silver bullion coin accounted for all the silver sales. The 5-ounce piece was released Monday. The coin depicts Cumberland Island National Seashore in Georgia — just like the companion quarter released two weeks ago. Its sales now total 46,000 coins or 230,000 ounces for the biggest tally by design since the 2016 Harpers Ferry National Historical Park coin.

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)
Tuesday Last Week This Week August September 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 30,000
$50 American Eagle 1 Oz Gold Coin 0 7,500 1,000 17,500 8,500 145,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 4,000 1,000 23,000
$10 American Eagle 1/4 Oz Gold Coin 2,000 2,000 2,000 4,000 4,000 58,000
$5 American Eagle 1/10 Oz Gold Coin 20,000 20,000 20,000 10,000 40,000 200,000
$50 American Buffalo 1 Oz Gold Coin 0 6,500 0 20,000 6,500 104,500
$1 American Eagle 1 Oz Silver Coin 0 1,037,500 0 1,530,000 1,037,500 10,275,000
Pictured Rocks 5 Oz Silver Coin 0 0 0 0 0 30,000
Apostle Islands 5 Oz Silver Coin 0 0 0 0 0 30,000
Voyageurs 5 Oz Silver Coin 0 0 0 0 0 30,000
Cumberland Island 5 Oz Silver Coin 20,000 N/A 46,000 N/A 46,000 46,000

 

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