Precious Metals Decline Wed., Sept. 25

by CoinNews.net on September 25, 2019 · 1 comment

Gold Bullion Overshadowing Other Bars

Gold futures fell $27.90 on Wednesday, Sept. 25

Precious metals futures dropped Wednesday, registering losses ranging from 1.8% for gold to 3% for silver.

Gold for December delivery declined $27.90 to settle at $1,512.30 an ounce on the Comex division of the New York Mercantile Exchange.

"Today’s price action is still so far just routine downside corrections amid price uptrends still in place on the daily bar charts. However, selling pressure in the safe-haven metals today was also due to risk appetite that has increased at mid-week," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,507.40 to a high of $1,542.80. They rose 0.6% on Tuesday — marking their highest settlement since Sept. 4, and they gained 1.1% on Monday.

Silver for December delivery fell 55.5 cents to settle at $18.073 an ounce. Silver futures traded between $17.93 and $18.75. They lost 0.4% on Tuesday, and they surged 4.8% on Monday — closing at their highest point since Sept. 5.

In PGM futures on Wednesday:

  • October platinum declined $27.50, or 2.9% to $927.90 an ounce, ranging from $923.60 to $959.

  • Palladium for December delivery lost $34.60, or 2.1%, to $1,611.80 an ounce, trading between $1,602.30 and $1,648.70. On Tuesday, they finished at a record settlement of $1,646.40.

London Precious Metals Prices

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

  • Gold gained $8.10, or 0.5%, to $1,528.75 an ounce.
  • Silver added a penny, or 0.05%, to $18.57 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 climbed by a combined 1,000 ounces of gold coins and by 50,000 ounces in silver coins.

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)
Wednesday / This Week Last Week August September 2019 Sales
$50 American Eagle 1 Oz Gold Coin 500 500 5,500 3,500 90,000
$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 5,000 0 0 10,000 170,000
$50 American Buffalo 1 Oz Gold Coin 0 500 1,500 1,000 50,500
$1 American Eagle 1 Oz Silver Coin 50,000 0 1,007,000 736,000 13,005,000
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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What’s up with this December typo?