Gold Rises, Silver Marks 15-Week High, Palladium Logs New Record

by CoinNews.net on December 12, 2018 · 0 comments

Four Gold Ingots, One Silver Bullion Bar

Silver ended at its best price since Aug. 27 while palladium posted a new record.

Precious metals posted gains Wednesday that ranged from 0.2% for gold to 2.8% for platinum. Palladium scored a new record and silver finished at its best price since late August.

Gold for February delivery rose $2.80 to settle at $1,250 an ounce on the Comex division of the New York Mercantile Exchange.

"The fact that we are seeing some risk coming back to the market: the stocks are climbing, the dollar is up and the yen is weaker, does remove some of the demand in gold. But overall, it’s holding relatively well but is missing a spark to move higher," Reuters quoted Saxo Bank analyst Ole Hansen.

Gold futures ranged from a low of $1,247.10 to a high of $1,252.60. They declined 0.2% on Tuesday and they lost 0.3% on Monday.

Elsewhere, silver for March delivery jumped 22.3 cents, or 1.5%, to settle at $14.851 an ounce. The finish was the highest since silver ended at $14.859 an ounce on Aug. 27. Silver futures traded between $14.63 and $14.90. They rose 0.2% on Tuesday and they slipped 0.6% on Monday.

In PGM futures Wednesday:

  • January platinum advanced $21.60 to $807.10 an ounce, ranging from $785.40 to $807.70.

  • Palladium for March delivery gained $17.20, or 1.5%, to $1,194.50 an ounce — a new record. Palladium prices traded between $1,174.10 and $1,195.

London Precious Metals Prices

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

  • Gold dipped 5 cents, or less than 0.1%, to 1,245.30 an ounce.
  • Silver rose 1.5 cents, or 0.1%, to $14.655 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 November December 2018 Sales
$100 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 30,000
$50 American Eagle 1 Oz Gold Coin 0 0 1,000 16,000 1,000 189,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 4,000 0 32,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 0 62,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 20,000 0 230,000
$50 American Buffalo 1 Oz Gold Coin 0 0 1,000 5,500 1,000 121,000
$1 American Eagle 1 Oz Silver Coin 0 150,000 75,000 1,645,000 225,000 15,435,000
Pictured Rocks 5 Oz Silver Coin* 0 0 0 0 0 30,000
Apostle Islands 5 Oz Silver Coin* 0 0 0 0 0 30,000
Voyageurs 5 Oz Silver Coin* 0 0 0 0 0 30,000
Cumberland Island 5 Oz Silver Coin 0 0 0 0 0 52,500
Block Island 5 Oz Silver Coin 0 0 0 80,000 0 80,000

 

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