Precious Metals Divided Monday, Nov. 26

by CoinNews.net on November 26, 2018 · 0 comments

Pile of Gold Bullion

Gold ended 80 cents lower Monday, Nov. 26

Precious metals futures performed mixed Monday with platinum and palladium gaining and gold and silver falling.

Gold for December delivery edged down 80 cents, or less than 0.1%, to settle at $1,222.40 an ounce on the Comex division of the New York Mercantile Exchange. The close was the lowest since last Tuesday, Nov. 20.

"The metal could be in for a sizeable drop should support at $1,220 break, in which case a return back down to the next support at $1,205 would become likely," Reuters quoted Fawad Razaqzada, an analyst with Forex.com.

"With the 10-year U.S. bond yields on the rise again, this may support the greenback and simultaneously prevent gold from going higher."

Gold futures ranged from a low of $1,221.80 to a high of $1,228.60. They rose 20 cents last week. On Wednesday, they ended at $1,228 an ounce for their best close since Nov. 7.

Meanwhile, silver for December delivery lost 3.8 cents, or 0.3%, to settle at $14.205 an ounce. The finish was the lowest since Nov. 14. Silver futures traded between $14.19 and $14.42. They fell 1% last week. On Wednesday, they settled at $14.502 an ounce for their highest finish since Nov. 7.

In other precious metals futures prices on Monday:

  • January platinum added $2.80, or 0.3%, to $847.80 an ounce, ranging from $842.70 to $852.20.

  • Palladium for December delivery added $10.20, or 0.9%, to $1,124.70 an ounce, trading between $1,100.30 and $1,131.

Both metals fell last week with platinum slipping 0.2% and palladium dropping 3.5%.

London Precious Metals Prices

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

  • Gold dipped 25 cents, or less than 0.1%, to 1,223.40 an ounce.
  • Silver gained 12.5 cents, or 0.9%, to $14.38 an ounce.

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

In LBMA results last week, prices for gold climbed 0.1% while others declined by 0.2% for silver, 0.5% for platinum and 3.1% for palladium.

US Mint Bullion Sales in 2018

The United States Mint has not reported any bullion sales increases in more than a week. 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 0 21,000 5,000 177,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 4,000 2,000 30,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 2,000 62,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 10,000 15,000 225,000
$50 American Buffalo 1 Oz Gold Coin 0 0 6,500 3,000 117,500
$1 American Eagle 1 Oz Silver Coin 0 0 1,430,000 1,270,000 14,835,000
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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