Precious Metals Rise Modestly Wed., Jan. 23

by CoinNews.net on January 23, 2019 · 0 comments

Gold bullion bars

Gains in precious metals ranged from less than 0.1% for gold to 0.7% for platinum

Precious metals futures rose slightly Wednesday. Gold was the weakest gainer overall, advancing less than 0.1% as the U.S. dollar eased.

Gold for February delivery edged up 60 cents to finish at $1,284 an ounce on the Comex division of the New York Mercantile Exchange.

"Technically, February gold futures bulls have the overall near-term technical advantage, but are fading. A two-month-old price uptrend is still in place on the daily bar chart, but just barely," 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 $1,300."

Gold futures ranged from a low of $1,277.70 to a high of $1,286. They rose less than 0.1% on Tuesday.

Meanwhile, silver for March delivery picked up 5.5 cents, or 0.4%, to settle at $15.38 an ounce. Silver futures traded between $15.27 and $15.45. They declined 0.5% on Tuesday.

In PGM futures on Wednesday:

  • April platinum added $5.20, or 0.7%, to $796.40 an ounce, ranging from $790.80 to $798.30.

  • Palladium for March delivery gained $1.70, or 0.1%, to $1,308.20 an ounce, trading between $1,295 and $1,319.50. On Thursday, palladium logged a record settlement at $1,348.20 an ounce.

London Precious Metals Prices

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

  • Gold fell $2.30, or 0.2%, to $1,279.80 an ounce.
  • Silver was unchanged at $15.26 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight

US Mint 2019 Bullion Sales

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 December 2018 Sales 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 0 2,800 0 0 30,000 25,600
$50 American Eagle 1 Oz Gold Coin 0 8,500 1,500 3,000 191,000 42,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 0 32,000 14,000
$10 American Eagle 1/4 Oz Gold Coin 0 4,000 0 0 62,000 20,000
$5 American Eagle 1/10 Oz Gold Coin 0 15,000 0 0 230,000 75,000
$50 American Buffalo 1 Oz Gold Coin 0 2,500 1,500 1,500 121,500 22,500
$1 American Eagle 1 Oz Silver Coin 0 710,000 375,000 490,000 15,700,000 3,931,000

 

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