Precious Metals Divided Monday, Oct. 7

by CoinNews.net on October 7, 2019 · 0 comments

Five gold bullion bars

Gold futures shed 0.6% on Monday, Oct. 7

Precious metals futures divided Monday with gold and silver modestly falling and platinum and palladium slightly rising.

Gold for December delivery declined $8.50, or 0.6%, to settle at $1,504.40 an ounce on the Comex division of the New York Mercantile Exchange. The close was the lowest since Tuesday, Oct. 1.

"Gold seems to have run out of steam here, we just need a trigger for the market to move. The fact that the dollar is a tad higher is the reason gold is a bit softer," Reuters quoted Saxo Bank commodity strategist Ole Hansen.

Gold futures ranged from a low of $1,493.30 to a high of $1,518.80. They rose 0.4% last week.

Silver for December delivery fell 8.5 cents, or 0.5%, to settle at $17.54 an ounce. Silver futures traded between $17.43 and $17.70. They dipped 0.2% last week.

In other precious metals futures prices on Monday:

  • January platinum edged $1.40, or 0.2%, higher to $888.300 an ounce, ranging from $879.40 to $894.

  • Palladium for December delivery gained $3.90, or 0.2%, $1,646.30 an ounce, trading between $1,623.50 and $1,648. On Wednesday, they scored a record settlement of $1,665.50 an ounce.

Last week, platinum tumbled 5.3% and palladium edged 0.6% lower.

London Precious Metals Prices

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

  • Gold rose $2.10, or 0.1%, to $1,501.25 an ounce.
  • Silver declined 18 cents, or 1%, to $17.425 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

In LBMA results last week, gold and silver logged increases of 0.6% and 0.5% while platinum and palladium logged declines 5.6% and 0.5%.

US Mint 2019 Bullion Sales

United States Mint bullion sales advanced by a combined 2,500 ounces in gold coins and 245,000 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)
Monday Last Week September October 2019 Sales
$50 American Eagle 1 Oz Gold Coin 1,000 1,500 3,500 2,500 92,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 0 24,000
$10 American Eagle 1/4 Oz Gold Coin 2,000 2,000 2,000 4,000 34,000
$5 American Eagle 1/10 Oz Gold Coin 10,000 5,000 10,000 15,000 185,000
$50 American Buffalo 1 Oz Gold Coin 0 0 1,000 0 50,500
$1 American Eagle 1 Oz Silver Coin 180,000 565,000 1,021,000 460,000 13,750,000
San Antonio Missions 5 Oz Silver Coin 12,500 42,200 37,700 17,000 54,700
War in the Pacific 5 Oz Silver Coin 500 0 2,500 500 72,500
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

 

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