Gold and Silver Gain in October Start

by CoinNews.net on October 1, 2019 · 0 comments

Nine Gold Bullion Bars

Gold futures gained 1.1% on Tuesday, Oct. 1

Precious metals futures divided Tuesday, the first trading day of October, with gold and silver rising and platinum and palladium falling.

Gold for December delivery tacked on $16.10, or 1.1%, to settle at $1,489 an ounce on the Comex division of the New York Mercantile Exchange.

Gold futures ranged from a low of $1,465 to a high of $1,493.50. They dropped 2.2% on Monday, ending 3.7% lower in September while surging 4.2% in the third quarter.

"Monday’s quarter-end sell off in gold was ugly but not surprising," Adrian Ash, director of research at BullionVault, told MarketWatch. "Gold is increasingly sensitive to the outlook for interest rates, moving higher when ever-more bond yields fall below zero."

"Investors and traders who left their profit-taking too late might now regret rushing out" Monday, said Ash.

Silver for December delivery rose 30.4 cents, or 1.8%, to settle at $17.302 an ounce. Silver futures traded between $16.94 and $17.38. They tumbled 3.7% on Monday, closing September with a 7.3% loss while gaining 10.8% in the third quarter.

In other precious metals futures prices on Tuesday:

  • January platinum dipped $3.10, or 0.4%, to $886.10 an ounce, ranging from $879.30 to $893.80.

  • Palladium for December delivery fell $16.80, or 1%, to $1,630.70 an ounce, trading between $1,621 and $1,653.80. On Friday, palladium registered a record settlement at $1,652.90 an ounce.

London Precious Metals Prices

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

  • Gold declined $11.85, or 0.8%, to $1,473.45 an ounce.
  • Silver fell 14.5 cents, or 0.8%, to $17.11 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 products moved up by a combined 2,500 ounces in gold coins and by 280,00 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)
Tuesday / October Last Week This Week September 2019 Sales
$50 American Eagle 1 Oz Gold Coin 1,500 500 1,500 3,500 91,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 24,000
$10 American Eagle 1/4 Oz Gold Coin 2,000 0 2,000 2,000 32,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 5,000 5,000 10,000 175,000
$50 American Buffalo 1 Oz Gold Coin 0 0 0 1,000 50,500
$1 American Eagle 1 Oz Silver Coin 280,000 50,000 565,000 1,021,000 13,570,000
San Antonio Missions 5 Oz Silver Coin** 0 N/A 37,700 37,700 37,700
War in the Pacific 5 Oz Silver Coin 0 0 0 2,500 72,000
American Memorial Park 5 Oz Silver Coin* 0 0 0 0 80,000
Lowell 5 Oz Silver Coin* N/A 80,000
$100 American Eagle 1 Oz Platinum Coin* N/A 40,000

 

**The U.S. Mint adjusted sales of the newly released San Antonio Missions coin to 37,700 units from 111,000 units.

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