Gold Marks 21-Week High, Palladium Scores Another Record

by CoinNews.net on December 4, 2018 · 0 comments

Gold bullion and nuggets

Gold ended at its best price since July 12 and palladium registered a fresh record

Most precious metals climbed Tuesday. In highlights, gold finished near a 21-week high, silver closed at a 1-month high, and palladium scored another record.

Gold for February delivery advanced $7, or 0.6%, to settle at $1,246.60 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the best since gold ended at the same price on July 12.

"The safe-haven metals are getting buying support from a big sell-off in the U.S. stock market today," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The gold market is also benefiting from an improved near-term chart posture that is inviting technical buyers."

Gold futures ranged from a low of $1,235.80 to a high of $1,247.50. They rose 1.1% on Monday.

Silver for March delivery gained 14.1 cents, or 1%, to settle at $14.64 an ounce. The finish was the highest since silver ended at $14.647 an ounce on Nov. 5. Silver futures traded between $14.46 and $14.75. They jumped 2% on Monday.

In other precious metals futures prices on Tuesday:

  • January platinum declined $6.50, or 0.8%, to $804.20 an ounce, ranging from $799.60 to $811.20.

  • Palladium for March delivery added $14.60, or 1.3%, to $1,180.20 an ounce — a fresh record. Palladium traded between $1,155.50 and $1,189.50.

London Precious Metals Prices

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

  • Gold rose $10, or 0.8%, to 1,240.30 an ounce.
  • Silver added 16 cents, or 1.1%, to $14.545 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)
Tuesday Last Week This Week / December 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 0 16,000 188,000
$25 American Eagle 1/2 Oz Gold Coin 0 2,000 0 4,000 32,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 62,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 0 20,000 230,000
$50 American Buffalo 1 Oz Gold Coin 0 2,500 0 5,500 120,000
$1 American Eagle 1 Oz Silver Coin 0 375,000 150,000 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 0 80,000 80,000

 

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