Precious Metals Extend Declines to Third Session

by CoinNews.net on November 12, 2018 · 0 comments

Two gold bullion bars

Gold prices shed 0.4% on Monday, Nov. 12

Precious metals futures ended lower for a third session in a row Monday. Gold closed at a fresh, more than one-month low.

Gold for December delivery shed $5.10, or 0.4%, to settle at $1,203.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Oct. 10.

"Gold has fallen in line with the [U.S. dollar] drive, meaning that the current rally in the greenback is not a reflection of a safe-haven spree from traders," MarketWatch quoted Jameel Ahmad, global head of currency strategy and market research at FXTM. "This does weigh in line with the view that investors are piling up bullish dollar bets, which makes me more suspicious that this move has been encouraged by skepticism that a trade agreement with China can really be agreed in November."

Gold futures ranged from a low of $1,201.40 to a high of $1,212. They declined 2% last week.

Silver for December delivery lost 12.9 cents, or 0.9%, to finish at $14.011 an ounce. Silver futures traded between $13.99 and $14.18. They sank 4.2% last week.

In other precious metals futures prices on Monday:

  • January platinum declined $10.70, or 1.3%, to $845.30 an ounce, ranging from $844.40 to $860.40.

  • Palladium for December delivery declined $11.90, or 1.1%, to $1,085.60 an ounce, trading between $1,083.60 and $1,104.50. Last Monday, they ended at $1,121.60 an ounce which was $1.20 lower than its all-time record.

Both fell last week with platinum dropping 2.3% and palladium slipping 0.6%.

London Precious Metals Prices

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

  • Gold declined $5.85, or 0.5%, to 1,205.55 an ounce.
  • Silver shed 18 cents, or 1.3%, to $14.16 an ounce.

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

In LBMA results last week, palladium rose 0.7% while the other metal prices declined — 1.7% for gold, 3.2% for silver and 0.7% for platinum.

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)
Monday Last Week October November 2018 Sales
$100 American Eagle 1 Oz Platinum Coin* 0 0 0 0 30,000
$50 American Eagle 1 Oz Gold Coin 0 4,000 21,000 4,000 176,000
$25 American Eagle 1/2 Oz Gold Coin 0 2,000 4,000 2,000 30,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 0 60,000
$5 American Eagle 1/10 Oz Gold Coin 0 10,000 10,000 10,000 220,000
$50 American Buffalo 1 Oz Gold Coin 0 2,000 6,500 2,000 116,500
$1 American Eagle 1 Oz Silver Coin 0 405,000 1,430,000 405,000 13,970,000
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 0 0 52,500

 

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