Precious Metals Advance Wed., Dec. 26

by CoinNews.net on December 26, 2018 · 0 comments

Five gold bullion bars

Gold futures ended at their best price since June 15

Precious metals futures advanced Wednesday following a break from trading on Tuesday for Christmas. Gold marked another, more than six-month high while silver logged its strongest close in about four and a half months.

Gold for February delivery added $1.20, or less than 0.1%, to settle at $1,273 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since June 15 when gold ended at $1,278.50 an ounce.

"The downdraft in global equity markets has firmed up gold’s major support level to $1,250. But given the shaky global equity markets, and waning risk sentiment, we should expect safe-haven demand for gold to remain firm into year-end [and] beyond," MarketWatch quoted analysts at Oanda.

Gold futures ranged from a low of $1,267.50 to a high of $1,282.30. They rose 1.1% on Monday.

Meanwhile, silver for March delivery surged 30.3 cents, or 2%, to settle at $15.123 an ounce. The settlement was the highest since silver ended at $15.295 an ounce on Aug. 10. Silver futures traded between $14.78 and $15.25. They gained 0.8% on Monday.

In PGM futures prices Wednesday:

  • January platinum added $10.70, or 1.4%, to $800.10 an ounce, ranging from $788.30 to $804.30.

  • Palladium for March delivery gained $9.80, or 0.8%, to $1,185.90 an ounce, trading between $1,174 and $1,189. Last Wednesday, palladium ended at a record of $1,201.30 an ounce.

London Precious Metals Prices

London markets also closed Wednesday for holiday. The latest LBMA prices on Monday were:

  • Gold at $1,261.25 an ounce.
  • Silver at $14.675 an ounce.
  • Platinum at $792 an ounce.
  • Palladium at $1,240 an ounce.

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 / 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 0 0 16,000 2,000 190,000
$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 0 0 5,500 1,500 121,500
$1 American Eagle 1 Oz Silver Coin 0 100,000 1,645,000 350,000 15,560,000
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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