Gold Ends at 3-Week Low, Palladium Scores 8-Month High

by CoinNews.net on September 26, 2018 · 0 comments

Layers of Gold Bullion

Gold futures shed 0.5% on Wednesday, Sept. 26

Precious metals futures ended mixed Wednesday with gold and silver lower and platinum and palladium higher. Gold marked a three-week low but palladium scored an eighth-month high.

Gold for December delivery declined $6, or 0.5%, to settle at $1,199.10 an ounce on the Comex division of the New York Mercantile Exchange. The close is the weakest since also ending at $1,199.10 an ounce on Sept. 4.

"Since even the most astute G-10 traders are struggling for dollar direction, gold remains mired in no man’s land, smack dab in the middle of the well-worn $1,190-$1,210 range," Bloomberg News quoted Stephen Innes, Singapore-based head of Asia Pacific trading with Oanda Corp.

Gold futures ranged from a low of $1,194.60 to a high of $1,206.90. They inched up Tuesday by 70 cents, or less than 0.1%, and moved up 0.3% on Monday.

Silver for December delivery lost 9.2 cents, or 0.6%, to end at $14.401 an ounce. Silver futures traded between $14.34 and $14.55. They gained 1.1% on Tuesday, marking their best close since Aug. 31, and they slipped 0.1% on Monday.

In PGM futures on Wednesday:

  • January platinum — the new, most active contract — rose $2.90, or 0.4%, to $829.10 an ounce, ranging from $823.30 to $833.

  • Palladium for December delivery advanced $9.30, or 0.9%, to $1,063.10 an ounce — its best close since Jan. 29 when ending at $1,083.40 an ounce. The precious metal traded between $1,047.30 and $1,065.

London Precious Metals Prices

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

  • Gold declined $7.65, or 0.6%, to 1,194.25 an ounce.
  • Silver added 18.5 cents, 1.3%, to $14.475 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. Mint bullion products with columns listing the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
Wednesday 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 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 0 0 2,500 20,000 9,000 107,000
$1 American Eagle 1 Oz Silver Coin 0 925,000 470,000 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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