Gold Declines; Palladium Nears Record

by CoinNews.net on October 22, 2018 · 0 comments

Small Gold Bullion Bars

Gold futures shed 0.3% Monday, Oct. 22

Precious metals futures ended mostly lower Monday. Palladium was the exception, jumping 3.5% to finish near an all-time record.

Gold for December delivery declined $4.10, or 0.3%, to settle at $1,224.60 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is in for a little bit of a lull early this week as not much [is] in the way of economic data until Thursday with durable goods … but Friday, with the first look at [third quarter gross domestic product], could be a market mover for gold, interest rates and the U.S. dollar all intertwined," MarketWatch quoted Jeff Wright, executive vice president of mineral exploration company GoldMining Inc.

Gold futures ranged from a low of $1,222.80 to a high of $1,232.60. They gained 0.6% last week for their third straight weekly increase.

Ending lower for fourth time in five sessions, silver for December shed 6.3 cents, or 0.4%, to $14.587 an ounce. Silver futures traded between $14.54 and $14.72. They climbed 0.1% last week.

In other precious metals prices:

  • January platinum dropped $13.50, or 1.6%, to $822.50 an ounce, ranging from $820.50 to $842.

  • Palladium for December delivery soared $37.80 to $1,107.70 an ounce — its best settlement since the Jan. 17 all-time high of $1,109.70 an ounce. Prices traded between between $1,070.60 and $1,112.

The pair divided last week with platinum falling 0.5% and palladium rising 0.9%.

London Precious Metals Prices

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

  • Gold declined $5.55, or 0.5%, to 1,222.30 an ounce.
  • Silver rose 2 cents, or 0.1%, to $14.63 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight

In LBMA results last week, platinum declined 0.4% while the other metal prices gained — 0.7% for gold, 0.1% for silver, and 0.2% for palladium.

US Mint Bullion Sales in 2018

United States Mint bullion products increased by 4,000 ounces in American Gold Eagles and by 200,000 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)
Monday 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 4,000 2,500 14,500 17,000 168,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 2,000 2,000 26,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 4,000 0 58,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 40,000 10,000 210,000
$50 American Buffalo 1 Oz Gold Coin 0 2,500 11,000 5,000 113,000
$1 American Eagle 1 Oz Silver Coin 200,000 200,000 2,897,500 1,330,000 13,465,000
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

 

Leave a Reply

avatar
  
smilegrinwinkmrgreenneutraltwistedarrowshockunamusedcooleviloopsrazzrollcryeeklolmadsadexclamationquestionideahmmbegwhewchucklesillyenvyshutmouth
  Subscribe  
Notify of