Gold and Silver Advance 1.3%

by CoinNews.net on October 2, 2018 · 0 comments

Several 999.9 gold bullion bars

Most precious metals futures advanced Tuesday, Oct. 2

Gold and silver futures moved 1.3% higher on Tuesday, Oct. 2. Gold’s close was its best in almost two weeks.

Gold for December delivery tacked on $15.30 to settle at $1,207 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the strongest since Sept. 20.

"One thing that was interesting today was that the dollar index was over 95 and gold completely ignored that. The index around this level is a major headwind for gold and when you ignore a headwind it is a bullish signal," Reuters quoted George Gero, managing director of RBC Wealth Management.

Gold futures ranged from a low of $1,192.20 to a high of $1,212.30. They lost 0.4% on Monday.

Elsewhere, silver for December advanced 18.6 cents to settle at $14.693 an ounce. The close is the best since Friday when prices ended at a one-month high. Silver futures traded between $14.47 and $14.95. They fell 1.4% on Monday.

In other precious metals futures prices:

  • January platinum rose $5.60, or 0.7%, to $833.50 an ounce, ranging from $818.20 to $838.20.

  • Palladium for December delivery declined $5.70, or 0.5%, to $1,050.70 an ounce, trading between $1,032.40 and $1,058.40. an ounce. On Friday, it logged its best close since late January.

London Precious Metals Prices

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

  • Gold gained $15.35, or 1.3%, to 1,204.70 an ounce.
  • Silver declined 4.5 cents, or 0.3%, to $14.505 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 rose by a combined 1,000 ounces in American Eagle and Buffalo gold coins and by 195,000 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 Week / Oct. 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 500 3,500 2,000 17,500 14,500 153,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 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 5,000 10,000 40,000 205,000
$50 American Buffalo 1 Oz Gold Coin 500 4,500 1,000 20,000 11,000 109,000
$1 American Eagle 1 Oz Silver Coin 195,000 935,000 545,000 1,530,000 2,897,500 12,680,000
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 0 0 N/A 52,500 52,500

 

This article was edited to include updated U.S. Mint bullion figures.

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