Gold Ends at 6-Week Low, Palladium Logs Another 8-Month High

by CoinNews.net on September 27, 2018 · 0 comments

Palladium

Palladium prices ended at their best level since Jan. 29

Palladium stood alone among precious metals with gains Thursday, posting a fresh eight-month high. Gold, meanwhile, marked its worst ending in six weeks.

Gold for December delivery declined $11.70, or 1%, to settle at $1,187.40 an ounce on the Comex division of the New York Mercantile Exchange. The close is the lowest since ending at $1,184.20 an ounce on Aug. 17.

"The path of least resistance remains lower for gold as real interest rates (and more important the outlook for them) continue to climb, and the trends are still bearish on the charts," MarketWatch quoted Tyler Richey, co-editor for the Sevens Report.

Gold futures ranged from a low of $1,185.60 to a high of $1,202.60. They lost 0.5% on Wednesday, inched up Tuesday by 70 cents, or less than 0.1%, and moved up 0.3% on Monday.

Silver for December delivery declined 11.1 cents, or 0.8%, to end at $14.29 an ounce. Silver futures traded between $14.19 and $14.48. The settlement is the weakest since Sept. 19 when silver finished at $14.28 an ounce.

Silver prices fell 0.6% on Wednesday, gained 1.1% on Tuesday — marking their best close since Aug. 31, and slipped 0.1% on Monday.

In rounding out precious metals futures prices on Thursday;

  • January platinum dropped $14.40, or 1.7%, to $814.70 an ounce, ranging from $809.70 to $835.70.

  • Palladium for December delivery advanced $8.10, or 0.8%, to $1,071.20 an ounce — its best close since Jan. 29 when ending at $1,083.40 an ounce, and its twelth straight session increase. The precious metal traded between $1,050.10 and $1,074.40.

London Precious Metals Prices

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

  • Gold declined $8.85, or 0.7%, to 1,185.40 an ounce.
  • Silver fell 5.5 cents, 0.4%, to $14.42 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 increased by a combined 1,500 ounces in American Eagle and Buffalo gold coins.

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 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 1,000 0 1,000 4,000 2,000 24,000
$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 1,000 0 3,500 20,000 10,000 108,000
$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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