Palladium Scores Fifth Straight Record, Gold and Silver Decline Modestly

by CoinNews.net on January 10, 2019 · 0 comments

Several 999.9 gold bullion bars

Gold prices eased 0.4% on Thursday, Jan. 10

Precious metals futures finished divided Thursday with platinum and palladium higher and gold and silver lower. Palladium posted its fifth consecutive record settlement.

Gold for February delivery declined $4.60, or nearly 0.4%, to settle at $1,287.40 an ounce on the Comex division of the New York Mercantile Exchange. The yellow metal slipped as the U.S. dollar climbed.

"Gold has seen some consolidation beneath the psychological $1,300 level, with a pull on each side of the market," Reuters quoted David Meger, director of metals trading at High Ridge Futures.

"There is some support from the Fed less likely to raise interest rates and yet on the other side a little lesser need for safe haven as we’ve seen a rebound in equities as of late."

Gold futures ranged from a low of $1,287.10 to a high of $1,298. They gained 0.5% on Wednesday, declined 0.3% on Tuesday, and rose 0.3% on Monday. Last Thursday, they finished at $1,294.80 an ounce for their best settlement since June. 14.

Ending lower for the fourth time in five sessions, silver for March delivery shed 9.2 cents, or nearly 0.6%, to end at $15.643 an ounce. Silver futures traded between $15.62 and $15.83. They moved up 0.1% on Wednesday, lost 0.3% on Tuesday, and dipped 0.2% on Monday. Last Thursday, silver registered its best settlement — at $15.797 an ounce — since July 16.

In other precious metals futures prices Thursday:

  • April platinum edged up 80 cents, or 0.1%, to $826.10 an ounce, ranging from $823 to $833.20.

  • Palladium for March delivery tacked on $3.80, or 0.3%, to $1,273.20 an ounce — another record close. Palladium prices traded between $1,260.80 and $1,279.80.

London Precious Metals Prices

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

  • Gold rose $3.30, or 0.3%, to $1,291.90 an ounce.
  • Silver added 8.5 cents, or 0.5%, to $15.705 an ounce.

US Mint Bullion Sales in 2019

United States Mint bullion sales were unchanged following three straight days of gains with the release of 2019-dated coins on Monday.

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 December 2018 Sales This Week / 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 30,000 21,000
$50 American Eagle 1 Oz Gold Coin 0 0 3,000 191,000 31,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 32,000 13,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 62,000 16,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 230,000 46,500
$50 American Buffalo 1 Oz Gold Coin 0 0 1,500 121,500 18,000
$1 American Eagle 1 Oz Silver Coin 0 100,000 490,000 15,700,000 2,796,000

 

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