Gold Edges Higher, Palladium Sinks

by CoinNews.net on October 25, 2018 · 0 comments

Nine Gold Bullion Bars

Gold prices rose 0.1% on Thursday, Oct. 25

Gold, silver and platinum futures were little changed Thursday but palladium sank more than 2% after having reached an all-time record just two days earlier.

Gold for December delivery added $1.30, or 0.1%, to settle at $1,232.40 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is pausing for a breath and is probably consolidating for the next possible move higher. Some speculative investors would be in a position to take profit," Reuters quoted Mitsubishi analyst Jonathan Butler.

"It is running into some resistance around $1,240. The next significant level is the $1,250 psychological barrier," he added.

Gold futures ranged from a low of $1,230.70 to a high of $1,242. They slipped 0.5% on Wednesday, gained 1% on Tuesday — ending at their best price since July 16, and declined 0.3% on Monday.

Silver for December shed 4.6 cents, or 0.3%, to end at $14.63 an ounce. Silver futures traded between $14.61 and $14.80. They declined 0.8% on Wednesday, rose 1.4% on Tuesday — marking their highest settlement since Aug. 27, and shed 0.4% on Monday.

In other precious metals prices Thursday:

  • January platinum edged up 40 cents, or less than 0.1%, to $831.90 an ounce, ranging from $825.90 to $836.70.

  • Palladium for December delivery sank $24.70, or 2.2%, to $1,087.60 an ounce, trading between between $1,086 and $1,112.40 On Tuesday, they ended at $1,122.80 an ounce to log an all-time record.

London Precious Metals Prices

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

  • Gold rose 25 cents, or less than 0.1%, to 1,230.80 an ounce.
  • Silver dipped a half cent, or less than 0.1%, to $14.74 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)
Thursday 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 0 2,500 4,000 14,500 17,000 168,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 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 0 2,500 0 11,000 5,000 113,000
$1 American Eagle 1 Oz Silver Coin 0 200,000 200,000 2,897,500 1,330,000 13,465,000
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

 

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