Gold Edges 0.4% Higher Thursday, Oct. 3

by CoinNews.net on October 3, 2019 · 0 comments

Small Gold Bullion Bars

Gold futures rose modestly Thursday, Oct. 3

Gold and silver futures divided Thursday but they were little changed overall. Palladium was the big mover among metals, dropping from a record high.

Gold for December delivery added $5.90, or 0.4%, to settle at $1,513.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Sept. 26.

"A big morning sell off in U.S. equities pushed the safe-haven metals to daily highs but then when the stock market erased its losses gold and silver retraced about half of their early solid gains. The gold and silver markets will continue to look to the U.S. stock market for near-term direction," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,501.70 to a high of $1,525.80. They gained 1.3% on Wednesday, they climbed 1.1% on Tuesday, and they dropped 2.2% on Monday.

Silver for December delivery dipped less then a penny to end at $17.676 an ounce. Silver futures traded between $17.51 and $17.85. They surged 2.2% on Wednesday, they rose 1.8% on Tuesday, and they tumbled 3.7% on Monday.

In other precious metals futures prices Thursday:

  • January platinum was unchanged at $894.40 an ounce, ranging from $890.70 to $904.

  • Palladium for December delivery fell $35.30, or 2.1%, $1,630.20 an ounce, trading between $1,618.10 and $1,667.30. On Wednesday, they logged a record settlement of $1,665.50 an ounce.

London Precious Metals Prices

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

  • Gold rose $24.50, or 1.6%, to $1,517.10 an ounce.
  • Silver rose 34 cents, or 2%, to $17.60 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 September October 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 500 1,500 3,500 1,500 91,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 0 24,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 2,000 2,000 32,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 5,000 10,000 5,000 175,000
$50 American Buffalo 1 Oz Gold Coin 0 0 0 1,000 0 50,500
$1 American Eagle 1 Oz Silver Coin 0 50,000 565,000 1,021,000 280,000 13,570,000
San Antonio Missions 5 Oz Silver Coin 0 N/A 42,200 37,700 4,500 42,200
War in the Pacific 5 Oz Silver Coin 0 0 0 2,500 0 72,000
American Memorial Park 5 Oz Silver Coin* 0 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

 

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