Precious Metals Surge in December Start; Palladium Notches New Record

by CoinNews.net on December 3, 2018 · 0 comments

One gold bullion bar and graph

Gold futures gained 1.1% on Monday, Dec. 3

Precious metals futures rallied Monday in starting the new trading week and month. Gold closed around a 20-week high and palladium scored a fresh record.

Gold for February delivery tacked on $13.60, or 1.1%, to settle at $1,239.60 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since gold ended at $1,239.70 an ounce on July 16.

"We remain committed to the idea that both gold and silver are physical commodity markets in need of a lifting of global economic headwinds from trade issues, and the news over the weekend certainly moves the needle in that direction," MarketWatch quoted analysts at Zaner Precious Metals..

U.S. and China agreed this weekend to a put the trade war on hold.

Gold futures ranged from a low of $1,226.60 to a high of $1,240.40. On Friday, they closed 0.2% higher on the week for a November increase of 0.9%.

Silver for March delivery surged 28.2 cents, or 2%, to settle at $14.499 an ounce. The finish was the highest since prices ended at $14.502 an ounce on Nov. 21. Silver futures traded between $14.28 and $14.65. On Friday, they ended 0.2% lower on the week for a November decline of 0.5%.

In other precious metals prices on Monday:

  • January platinum added $10.90, or 1.4%, to $810.70 an ounce, ranging from $801.40 to $816.50.

  • Palladium for March delivery advanced $21, or 1.8%, to $1,165.60 an ounce — a new record. Palladium traded between $1,149 and $1,178.70.

The pair divided last month with platinum tumbling 5.1% and palladium jumping 7.1%.

London Precious Metals Prices

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

  • Gold rose $12.75, or 1.1%, to 1,230.30 an ounce.
  • Silver added 15 cents, or 1.1%, to $14.385 an ounce.

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

Last month in LBMA prices, gold rose 0.2% and palladium jumped 11.4% while silver declined 0.7% and platinum lost 3.5%.

US Mint Bullion Sales in 2018

United States Mint bullion sales rose by 150,000 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 / December 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 11,000 21,000 16,000 188,000
$25 American Eagle 1/2 Oz Gold Coin 0 2,000 4,000 4,000 32,000
$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 5,000 10,000 20,000 230,000
$50 American Buffalo 1 Oz Gold Coin 0 2,500 6,500 5,500 120,000
$1 American Eagle 1 Oz Silver Coin 150,000 375,000 1,430,000 1,645,000 15,360,000
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
Block Island 5 Oz Silver Coin 0 80,000 N/A 80,000 80,000

 

Leave a Reply

avatar
  
smilegrinwinkmrgreenneutraltwistedarrowshockunamusedcooleviloopsrazzrollcryeeklolmadsadexclamationquestionideahmmbegwhewchucklesillyenvyshutmouth
  Subscribe  
Notify of