Palladium Extends Streak of Records to Three Days, Gold Dips

by CoinNews.net on December 5, 2018 · 0 comments

Several 999.9 gold bullion bars

Gold prices eased 0.3% on Wednesday, Dec. 5

Most precious metals declined Wednesday. Palladium was the exception, ending at yet another record for its third straight daily string of them. Gold, meanwhile, slipped from an almost 21-week high.

Gold for February delivery shed $4, or 0.3%, to settle at $1,242.60 an ounce on the Comex division of the New York Mercantile Exchange.

"With risk sentiment stabilizing, well kind of, the gold market is taking some profits," wrote Stephen Innes, a head of trading at Oanda, in a Wednesday research report according to MarketWatch. "Overall its time to hit the pause button until markets open until after the day of mourning," he said.

Gold futures ranged from a low of $1,238.70 to a high of $1,244.80. They gained 0.6% on Tuesday — marking their best close since July 12, and they rose 1.1% on Monday.

Silver for March delivery declined 5.8 cents, or 0.4%, to settle at $14.582 an ounce. Silver futures traded between $14.49 and $14.62. They advanced 1% on Tuesday for their strongest finish since Nov. 5, and they jumped 2% on Monday.

In PGM futures on Wednesday:

  • January platinum dipped $2.20, or 0.3%, to $802 an ounce, ranging from $793.30 to $805.70.

  • Palladium for March delivery rose $4.20, or 0.4%, to $1,184.40 an ounce — a new record. Palladium traded between $1,176.50 and $1,198.30.

London Precious Metals Prices

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

  • Gold declined $4.40, or 0.4%, to 1,235.90 an ounce.
  • Silver fell 6.5 cents, or 0.5%, to $14.48 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)
Wednesday 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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