Gold Ends Near 3-Week High, Palladium Posts Another Record

by CoinNews.net on September 24, 2019 · 0 comments

Gold bullion

Gold closed at its highest level since Sept. 4

Silver was by itself among precious metals Tuesday, slipping modestly as the others gained. Gold finished near a three-week high while palladium rallied to another record.

Gold for December delivery advanced $8.70, or 0.6%, to settle at $1,540.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Sept. 4.

"There are multiple influences on gold right now that could trigger a breakout or breakdown, but on a longer time frame the primary trend in gold turned higher this summer and we expect continued gains in the months and quarters ahead," MarketWatch quoted Tyler Richey, co-editor at Sevens Report Research.

Gold futures ranged from a low of $1,522.80 to a high of $1,543.30. They gained 1.1% on Monday.

Silver for December delivery declined 8.3 cents, or 0.4%, to settle at $18.628 an ounce. Silver futures traded between $18.31 and $18.81. They surged 4.8% on Monday, closing at their highest point since Sept. 5.

In rounding out precious metals dealings Tuesday:

  • October platinum rose $1.50, or 0.2% to $955.40 an ounce, ranging from $948.30 to $964.

  • Palladium for December delivery tacked on $20.80, or 1.3%, to a record settlement of $1,646.40 an ounce. Palladium traded between $1,624.60 and $1,648.

London Precious Metals Prices

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

  • Gold declined $1.45, or 0.1%, to $1,520.65 an ounce.
  • Silver added 18 cents, or 1%, to $18.56 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)
Tuesday / This Week Last Week August September 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 500 5,500 3,000 89,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 1,000 24,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 30,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 5,000 165,000
$50 American Buffalo 1 Oz Gold Coin 0 500 1,500 1,000 50,500
$1 American Eagle 1 Oz Silver Coin 0 0 1,007,000 686,000 12,955,000
War in the Pacific 5 Oz Silver Coin 0 0 12,500 2,500 72,000
American Memorial Park 5 Oz Silver Coin* 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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