Gold Ends At More Than Three-Week High

by CoinNews.net on November 29, 2018 · 0 comments

Gold Bullion

Gold ended at their best price since Nov. 5

Precious metals were little changed Thursday. Gold was alone in gains, and finished at a more than three-week high.

Gold for February delivery — the new, most active contract — edged up 60 cents, or less than 0.1%, to settle at $1,230.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Nov. 5.

"Technically, the gold bears still have the overall near-term technical advantage but the bulls have gained some upside momentum late this week," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Gold bulls’ next upside near-term price breakout objective is to produce a close in February futures above solid technical resistance at the October high of $1,252.00. Bears’ next near-term downside price breakout objective is pushing prices below solid technical support at $1,200.00."

Gold futures ranged from a low of $1,226.70 to a high of $1,234.90. They gained 0.8% on Wednesday, they lost 0.7% on Tuesday — ending at their lowest price since Nov. 14, and they dipped less than 0.1% on Monday.

Silver for March delivery — the new, most active contract — shed 5.3 cents, or 0.4%, to settle at $14.402 an ounce. Silver futures traded between $14.34 and $14.47. They advanced 1.7% on Wednesday, they declined 0.9% on Tuesday — also ending at their lowest price since Nov. 14, and they fell 0.3% on Monday.

In other precious metals prices Thursday:

  • January platinum declined $5.40, or 0.7%, to $820.90 an ounce, ranging from $818.90 to $832.50.

  • Palladium for March delivery slipped 50 cents, or less than 0.1%, to $1,151.40 an ounce — $3.20 lower than the record set on Nov. 16. Palladium prices traded between $1,141.30 and $1,158.20.

London Precious Metals Prices

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

  • Gold rose $13, or 1.1%, to 1,226.25 an ounce.
  • Silver added 11.5 cents, or 0.8%, to $14.265 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 October November 2018 Sales
$100 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 30,000
$50 American Eagle 1 Oz Gold Coin 0 0 0 21,000 5,000 177,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 4,000 2,000 30,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 2,000 62,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 10,000 15,000 225,000
$50 American Buffalo 1 Oz Gold Coin 0 0 0 6,500 3,000 117,500
$1 American Eagle 1 Oz Silver Coin 0 0 0 1,430,000 1,270,000 14,835,000
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 0 0 52,500
Block Island 5 Oz Silver Coin 0 N/A 80,000 N/A 80,000 80,000

 

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