Gold, Silver Rebound Modestly Tuesday, Oct. 9

by CoinNews.net on October 9, 2018 · 0 comments

Gold Bullion, five bars

Precious metals futures ended mostly higher Tuesday, Oct. 9

Gold and silver futures rebounded somewhat Tuesday from losses in the previous session that pulled their prices down to a more than one-week low.

Gold for December delivery rose $2.90, or 0.2%, to settle at $1,191.50 an ounce on the Comex division of the New York Mercantile Exchange.

"Some mild short covering in the futures markets and bottom-fishing in the cash markets were featured in both metals (silver and gold) today, following Monday’s solid losses," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

Gold futures ranged from a low of $1,186.60 to a high of $1,195.80. They dropped 1.4% on Monday, for their lowest settlement since Sept. 27.

Silver for December moved up 7.1 cents, or 0.5%, to finish at $14.40 an ounce. Silver futures traded between $14.28 and $14.47. They declined 2.2% on Monday — also ending at their the lowest close since Sept. 27.

In other precious metals futures on Tuesday:

  • January platinum tacked on $10.60, or 1.3%, to $828.90 an ounce, ranging from $814 to $829.50.

  • Palladium for December delivery fell $6.80, or 0.6%, to $1,062.10 an ounce, trading between $1,058.60 and $1,077.80.

London Precious Metals Prices

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

  • Gold fell $1.40, or 0.1%, to 1,185.55 an ounce.
  • Silver declined 14 cents, or 1%, to $14.325 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. 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 / Week Last Week September October 2018 Sales
$100 American Eagle 1 Oz Platinum Coin* 0 0 0 0 30,000
$50 American Eagle 1 Oz Gold Coin 0 4,500 14,500 4,500 155,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 2,000 1,000 25,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 4,000 0 58,000
$5 American Eagle 1/10 Oz Gold Coin 0 10,000 40,000 10,000 210,000
$50 American Buffalo 1 Oz Gold Coin 0 1,500 11,000 1,500 109,500
$1 American Eagle 1 Oz Silver Coin 0 670,000 2,897,500 670,000 12,805,000
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 0 0 52,500 0 52,500

 

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