Gold Marks 7.5-Month High And Tops $1,300

by CoinNews.net on January 28, 2019 · 0 comments

Gold bullion bars

Gold futures logged their best close since June 14

Precious metals futures ended mixed Monday as gold and silver gained and platinum and palladium declined. Gold finished at a seven-and-a-half-month high.

Gold for February delivery added $5, or 0.4%, to end at $1,303.10 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since June 14 when gold finished at $1,308.30 an ounce.

"Technically, February gold futures bulls have the overall near-term technical advantage and have gained more power recently, keeping a price uptrend 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 $1,330.00."

Gold futures ranged from a low of $1,296.50 to a high of $1,303.70. They picked up 1.2% last week.

Silver for March delivery rose 6.6 cents, or 0.4%, to settle at $15.765 an ounce. The close was the strongest since Jan. 3 when silver settled at $15.797 an ounce. Silver futures traded between $15.61 and $15.83. They gained 2% last week.

In other precious metals futures prices:

  • April platinum declined $3.80, or 0.5%, to $814.50 an ounce, ranging from $810.90 to $822.20.

  • Palladium for March delivery fell $30.50, or 2.3%, to $1,289.30 an ounce, trading between $1,287.70 and $1,329.

Last week, platinum moved up 2% and palladium lost 1.2%.

London Precious Metals Prices

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

  • Gold added $8.25, or 0.6%, to $1,302.15 an ounce.
  • Silver rose 31 cents, or 2%, to $15.685 an ounce.

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

In LBMA prices last week, silver and palladium declined by 0.6% and 3.2% while gold and platinum rose by 0.8% and 1.4%.

US Mint 2019 Bullion Sales

United States Mint bullion sales climbed by a combined 1,000 ounces in American Gold Eagles, by 60,000 ounces in American Silver Eagles, and by 1,000 ounces in American Platinum 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)
Monday Last Week December 2018 Sales 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 1,000 0 0 30,000 26,600
$50 American Eagle 1 Oz Gold Coin 500 2,500 3,000 191,000 43,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 32,000 14,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 62,000 20,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 0 0 230,000 80,000
$50 American Buffalo 1 Oz Gold Coin 0 1,500 1,500 121,500 22,500
$1 American Eagle 1 Oz Silver Coin 60,000 375,000 490,000 15,700,000 3,991,000

 

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