Gold Inches Higher, Silver Ends Near 1-Month High

by CoinNews.net on September 25, 2018 · 0 comments

Bullion Bar and Gold Bullion Coins

Gold rose 70 cents on Tuesday, Sept. 25

In precious metals futures action Tuesday, gold and palladium climbed for a second straight session — with the latter hitting a new six-month high — while platinum declined for a second day in a row. Silver, meanwhile, rose to an almost one-month high after sliding modestly on Monday.

Gold for December delivery rose 70 cents, or less than 0.1%, to settle at $1,205.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold and many other markets are in a holding pattern ahead of the Federal Reserve’s Open Market Committee (FOMC) meeting decision Wednesday afternoon," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A slightly lower U.S. dollar index today prompted some buying interest in the metals."

Gold futures ranged from a low of $1,201.30 to a high of $1,207.90. They moved up 0.3% on Monday.

Silver for December delivery settled up 15.2 cents, or 1.1%, to $14.493 an ounce. The finish was the strongest since Aug. 31 when silver ended at $14.557 an ounce. Silver futures traded between $14.25 and $14.60. They slipped 0.1% on Monday.

In other precious metals futures on Tuesday:

  • October platinum lost $6.40, or 0.8%, to $822.90 an ounce, ranging from $822.40 to $833.90.

  • Palladium for December delivery tacked on $6.40, or 0.2%, to $1,053.80 an ounce — its best settlement since Feb. 26 when ending at $1,054.45 an ounce. The precious metal traded between $1,041.70 and $1,058.50.

London Precious Metals Prices

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

  • Gold declined 85 cents, or less than 0.1%, to 1,201.90 an ounce.
  • Silver fell 2.5 cents, 0.2%, to $14.29 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 products increased by a combined 5,000 ounces in American Eagle and Buffalo gold coins and by 395,000 ounces in American Silver Eagles.

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 2,500 1,500 3,500 17,500 14,500 151,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 4,000 1,000 23,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 4,000 4,000 58,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 10,000 40,000 200,000
$50 American Buffalo 1 Oz Gold Coin 2,500 0 2,500 20,000 9,000 107,000
$1 American Eagle 1 Oz Silver Coin 395,000 925,000 470,000 1,530,000 2,432,500 11,670,000
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 0 1,500 0 N/A 52,500 52,500

 

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