Palladium Scores Record Settlement Atop $1,600; Gold Rises 0.3%

by CoinNews.net on September 12, 2019 · 0 comments

Palladium

Palladium prices closed Sept. 12 at a new record of $1,604.80 an ounce

Precious metals futures logged gains Thursday that ranged from less than 0.1% for silver to 3.1% for palladium. Palladium scored a record settlement above $1,600 an ounce.

Gold for December delivery added $4.20, or 0.3%, to settle at $1,507.40 an ounce on the Comex division of the New York Mercantile Exchange.

Gold futures ranged from a low of $1,496.80 to a high of $1,532.20. They gained 0.3% on Wednesday, they declined 0.8% on Tuesday — marking their weakest close since Aug. 6, and they lost 0.3% on Monday.

Silver for December delivery edged up less than a penny, or 0.04%, to close at $18.177 an ounce. Silver futures traded between $18.08 and $18.56. They dipped less than 0.1% on Wednesday, they edged up 0.1% on Tuesday, and they rose 0.3% on Monday.

In other precious metals futures Thursday:

  • October platinum settled up $12.40, or 1.3%, to $952.60 an ounce, ranging from $944.60 to $963.30.

  • Palladium for December delivery surged $48 to close at $1,604.80 an ounce — an all-time record. Palladium prices traded between $1,564.20 and $1,616.50.

"Palladium has witnessed a resurgence in price over the past two months, much in line with other hard assets such as gold, platinum and silver," MarketWatch quoted Ryan Giannotto, director of research at exchange-traded fund issuer GraniteShares. "What distinguishes palladium is its unique position spanning precious and specialty industrial metals, and this latter characteristic has benefited the metal in the momentary detente in the U.S.-China trade conflict."

London Precious Metals Prices

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

  • Gold gained $24.55, or 1.7%, to $1,515.20 an ounce.
  • Silver rose 2.5 cents, or 0.1%, to $18.19 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. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Thursday Last Week This Week August September 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 1,500 1,000 5,500 2,500 89,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 1,000 24,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 0 2,000 30,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 0 0 5,000 165,000
$50 American Buffalo 1 Oz Gold Coin 0 500 0 1,500 500 50,000
$1 American Eagle 1 Oz Silver Coin 0 11,000 675,000 1,007,000 686,000 12,955,000
War in the Pacific 5 Oz Silver Coin 0 0 2,500 12,500 2,500 72,000
American Memorial Park 5 Oz Silver Coin* 0 0 0 2,000 0 80,000
Lowell 5 Oz Silver Coin* N/A 80,000
$100 American Eagle 1 Oz Platinum Coin* N/A 40,000

 

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