Gold Rises Wed., Oct. 10, Silver Declines

by CoinNews.net on October 10, 2018 · 0 comments

Gold Bullion Bars

Gold futures rose 0.2% Wednesday, Oct. 10

Precious metals futures split in the mid-week trading session Wednesday. Gold was among the winners, rising for a second session in a row as U.S. stocks sank on the day.

Gold for December delivery rose $1.90, or 0.2%, to settle at $1,193.40 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is holding steady in a narrow range as the ‘big’ dollar pulls back from its seven-week high — support remains strong for the dollar on the back of a strong U.S. economy and expectations of steady interest-rate hikes by the Fed," MarketWatch quoted Dean Popplewell, vice president of market analysis at Oanda.

Gold futures ranged from a low of $1,188.50 to a high of $1,195.70. They edged up 0.2% on Tuesday and dropped 1.4% on Monday, for their lowest close since Sept. 27.

Silver for December declined 7.4 cents, or 0.5%, to end at $14.326 an ounce. The settlement is the weakest since Sept. 27. Silver futures traded between $14.25 and $14.46. They climbed 0.5% on Tuesday and declined 2.2% on Monday.

In PGM futures Wednesday:

  • January platinum shed $1.60, or 0.2%, to $827.30 an ounce, ranging from $822.60 to $831.40.

  • Palladium for December delivery added $5.10, or 0.5%, to $1,067.20 an ounce, trading between $1,055.20 and $1,074.

London Precious Metals Prices

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

  • Gold rose $3.05, or 0.3%, to 1,188.60 an ounce.
  • Silver added 5 cents, or 0.4%, to $14.375 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 grew by 3,000 ounces in American Gold Eagles and by 260,000 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)
Wednesday / 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 3,000 4,500 14,500 7,500 158,500
$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 260,000 670,000 2,897,500 930,000 13,065,000
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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