Precious Metals Ease Lower Wed., Oct. 17

by CoinNews.net on October 17, 2018 · 0 comments

closeup of gold bullion

Losses in precious metals ranged from 0.3% for both gold and silver to 0.7% for platinum

Precious metals futures moved slightly lower Wednesday. Gold slipped from an eleven-week high and posted its first loss in three sessions.

Gold for December delivery declined $3.60, or 0.3%, to settle at $1,227.40 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices are moderately lower in early-afternoon U.S. trading Wednesday, on a normal corrective pullback from recent solid gains that saw prices hit a 10-week high earlier this week," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note. "A big rebound in the U.S. stock market on Tuesday is also denting any safe-haven demand for gold and silver markets today."

Gold futures ranged from a low of $1,223.70 to a high of $1,232.90. They edged up less than 0.1% on Tuesday, but ended at their highest price since July 31, and they moved up 0.7% on Monday.

Ending down for a second day in a row, silver for December shed 3.8 cents, or 0.3%, to $14.663 an ounce. Silver futures traded between $14.61 and $14.76. They declined 0.2% on Tuesday and rose 0.6% on Monday for their best settlement since Aug. 28.

In PGM futures on Wednesday:

  • January platinum fell $6.10, or 0.7%, to $840.60 an ounce, ranging from $835.80 to $845.90.

  • Palladium for December delivery dropped $6.30, or 0.6% to $1,067.60 an ounce, trading between $1,063.40 and $1,077.

London Precious Metals Prices

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

  • Gold declined $1.65, or 0.1%, to 1,229.05 an ounce.
  • Silver fell 10.5 cents, or 0.7%, to $14.65 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 3,000 ounces in American Eagle and Buffalo bullion 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)
Wednesday Last Week This Week September October 2018 Sales
$100 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 30,000
$50 American Eagle 1 Oz Gold Coin 500 6,000 2,500 14,500 13,000 164,000
$25 American Eagle 1/2 Oz Gold Coin 1,000 0 1,000 2,000 2,000 26,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 4,000 0 58,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 40,000 10,000 210,000
$50 American Buffalo 1 Oz Gold Coin 1,500 1,000 2,500 11,000 5,000 113,000
$1 American Eagle 1 Oz Silver Coin 0 260,000 200,000 2,897,500 1,130,000 13,265,000
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 52,500 0 52,500

 

Leave a Reply

avatar
  
smilegrinwinkmrgreenneutraltwistedarrowshockunamusedcooleviloopsrazzrollcryeeklolmadsadexclamationquestionideahmmbegwhewchucklesillyenvyshutmouth
  Subscribe  
Notify of