Gold Dips As Silver, Platinum and Palladium Rise Tues., Dec. 11

by CoinNews.net on December 11, 2018 · 0 comments

Gold Bullion Overshadowing Other Bars

Gold futures shed 0.2% on Tuesday, Dec. 11

Most precious metals futures rose Tuesday, led by palladium. Gold slid lower for a second day in a row but is down just 0.4% on the week so far.

Gold for February delivery declined $2.20, or 0.2%, to settle at $1,247.20 an ounce on the Comex division of the New York Mercantile Exchange.

"Technically, February gold futures bulls have the overall near-term technical advantage. A four-week-old price uptrend is in place on the daily bar chart," 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 above solid technical resistance at the July high of $1,284.10. Bears’ next near-term downside price breakout objective is pushing prices below solid technical support at $1,225.00."

Gold futures ranged from a low of $1,245.80 to a high of $1,255.10. They lost 0.3% on Monday.

Elsewhere, silver for March delivery gained 2.3 cents, or 0.2%, to settle at $14.628 an ounce. Silver futures traded between $14.60 and $14.82. They slipped 0.6% on Monday.

In other precious metals prices Tuesday:

  • January platinum added $3.40, or 0.4%, to $785.50 an ounce, ranging from $780.10 to $791.30.

  • Palladium for March delivery advanced $18.60, or 1.6%, to $1,177.30 an ounce, trading between $1,161 and $1,184.90.

London Precious Metals Prices

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

  • Gold was unchanged at 1,245.35 an ounce.
  • Silver rose 11 cents, or 0.8%, to $14.64 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 advanced by a combined 2,000 ounces in American Eagle and Buffalo gold coins and by 75,000 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)
Tuesday / This Week Last Week November December 2018 Sales
$100 American Eagle 1 Oz Platinum Coin* 0 0 0 0 30,000
$50 American Eagle 1 Oz Gold Coin 1,000 0 16,000 1,000 189,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 4,000 0 32,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 0 62,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 20,000 0 230,000
$50 American Buffalo 1 Oz Gold Coin 1,000 0 5,500 1,000 121,000
$1 American Eagle 1 Oz Silver Coin 75,000 150,000 1,645,000 225,000 15,435,000
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 0 80,000 0 80,000

 

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