Precious Metals Advance; 2018 Bullion Silver Eagles Return

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

Gold Bullion and US Money

Gains in precious metals ranges from 0.3% for platinum to 0.7% for palladium

Precious metals futures scored modest gains Monday, Sept. 17, as the U.S. dollar retreated somewhat.

Gold for December delivery settled up $4.70, or 0.4%, to $1,205.80 an ounce on the Comex division of the New York Mercantile Exchange.

"There has been a shift in sentiment for gold in recent weeks, as dollar performance has started to struggle," MarketWatch quoted Richard Perry, market analyst at Hantec Markets. "If this is the beginning of a dollar correction again, the support should be found in the gold price."

Gold futures ranged from a low of $1,197.50 to a high of $1,209.70. They rose 70 cents last week.

Silver for December delivery added 8.1 cents, or 0.6%, to settle at $14.223 an ounce. Silver futures traded between $14.06 and $14.29. They shed 0.2% last week, ending Friday at their weakest point since Jan. 22, 2016.

In other precious metals futures dealings on Monday:

  • October platinum gained $2.30, or 0.3%, to $800.90 an ounce, ranging from $792.40 to $808.10.

  • Palladium for December delivery added $6.50, or 0.7%, to $977 an ounce, trading between $966 and $978.

Both metals last week posted respective gains of 2.3% and 0.2%.

London Precious Metals Prices

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

  • Gold shed a nickel to 1,201.90 an ounce.
  • Silver declined 4.5 cents, 0.3%, to $14.17 an ounce.

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

In LBMA results last week, prices rose 0.3% for gold, 0.2% for silver, 3.7% for platinum, and 0.5% for palladium.

US Mint Bullion Sales in 2018

United States Mint bullion sales moved up by 1,500 ounces in gold coins and by 932,500 ounces in silver coins.

Gains in gold coins were limited to the biggest American Gold Eagle. Silver sales split on the day with gains of 7,500 ounces in Cumberland Island coins and 925,000 ounces in American Silver Eagles. The 2018 Silver Eagles sales were the first since the U.S. Mint temporarily sold out of them on Sept. 6.

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)
Monday Last Week August September 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 30,000
$50 American Eagle 1 Oz Gold Coin 1,500 2,000 17,500 11,000 147,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 4,000 1,000 23,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 4,000 4,000 58,000
$5 American Eagle 1/10 Oz Gold Coin 0 20,000 10,000 40,000 200,000
$50 American Buffalo 1 Oz Gold Coin 0 0 20,000 6,500 104,500
$1 American Eagle 1 Oz Silver Coin 925,000 0 1,530,000 1,962,500 11,200,000
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
Cumberland Island 5 Oz Silver Coin 1,500 51,000 N/A 52,500 52,500

 

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