Gold Edges Higher As Other Metals Decline Thurs., Dec. 6

by CoinNews.net on December 6, 2018 · 0 comments

Three bullion gold bars

Gold futures edged up $1 on Thursday, Dec. 6

Gold stood alone with gains among precious metals Thursday. Palladium was the biggest loser on the day, plunging 3.6% after scoring a record on Wednesday.

Gold for February delivery rose $1, or less than 0.1%, to settle at $1,243.60 an ounce on the Comex division of the New York Mercantile Exchange.

"If gold was ever going to stage a meaningful rally it will be now: stocks and yields are falling and dollar is isn’t doing too great either, apart from against commodity currencies, owing to the ongoing risk-off trade," MarketWatch quoted Fawad Razaqzada, technical analyst with Forex.com.

Gold futures ranged from a low of $1,240 to a high of $1,249.90. They shed 0.3% on Wednesday, gained 0.6% on Tuesday — marking their best close since July 12, and they rose 1.1% on Monday.

Silver for March delivery lost 7.3 cents, or 0.5%, to settle at $14.509 an ounce. Silver futures traded between $14.41 and $14.59. They declined 0.4% on Wednesday, they advanced 1% on Tuesday for their strongest finish since Nov. 5, and they jumped 2% on Monday.

In other precious metals futures prices Thursday:

  • January platinum fell $12.40, or 1.6%, to $789.60 an ounce, ranging from $785 to $803.80.

  • Palladium for March delivery sank $42.50 to $1,141.90 an ounce, trading between $1,135.80 and $1,188.30. On Wednesday, they settled at a record of $1,184.40 an ounce.

London Precious Metals Prices

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

  • Gold rose $6.65, or 0.5%, to 1,242.55 an ounce.
  • Silver declined 10 cents, or 0.7%, to $14.38 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 / 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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