Gold Posts First Gain In Four Sessions, Holds Steady After FOMC Minutes

by CoinNews.net on October 9, 2019 · 0 comments

Three Gold Bullion Bars, Dark Background

Gold futures finished 0.6% higher Wed., Oct. 9

Precious metals futures rose modestly in the mid-week trading session Wednesday. Gold’s gain was its first in four sessions.

Gold for December delivery settled up $8.90, or 0.6%, to $1,512.80 an ounce on the Comex division of the New York Mercantile Exchange. Gold held steady following the release of minutes from the FOMC’s September policy meeting.

"The minutes showed that some Fed officials had become increasingly worried about a recession, but the markets had already assumed as much," given Fed Chairman Jerome Powell’s recent announcement that the Fed would soon begin purchasing short-term Treasury bills again, MarketWatch quoted Brien Lundin, editor of Gold Newsletter.

Gold futures ranged from a low of $1,505.10 to a high of $1,516.90. They dipped 0.03% on Tuesday — marking a one-week low — and declined 0.6% on Monday.

Silver for December delivery added 11 cents, or 0.6%, to settle at $17.81 an ounce. Silver futures traded between $17.72 and $18. They rose 0.9% on Tuesday and fell 0.5% on Monday.

In PGM futures on Wednesday:

  • January platinum moved up $6.60, or 0.7%, to $896.70 an ounce, ranging from $887.80 to $900.30.

  • Palladium for December delivery rose $4, or 0.2%, $1,654.70 an ounce, trading between $1,630.70 and $1,667.30. Last Wednesday, they scored a record settlement at $1,665.50 an ounce.

London Precious Metals Prices

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

  • Gold added $1.40, or 0.09%, to $1,507.25 an ounce.
  • Silver rose 22.5 cents, or 1.3%, to $17.78 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 picked up by 1,000 ounces in American Gold Eagles and by 75,000 ounces in American Silver Eagles.

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 Last Week This Week September October 2019 Sales
$50 American Eagle 1 Oz Gold Coin 1,000 1,500 2,000 3,500 3,500 93,500
$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 2,000 2,000 2,000 4,000 34,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 10,000 10,000 15,000 185,000
$50 American Buffalo 1 Oz Gold Coin 0 0 0 1,000 0 50,500
$1 American Eagle 1 Oz Silver Coin 75,000 565,000 255,000 1,021,000 535,000 13,825,000
San Antonio Missions 5 Oz Silver Coin 0 42,200 12,500 37,700 17,000 54,700
War in the Pacific 5 Oz Silver Coin 0 0 500 2,500 500 72,500
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

 

Leave a Reply

avatar
  
smilegrinwinkmrgreenneutraltwistedarrowshockunamusedcooleviloopsrazzrollcryeeklolmadsadexclamationquestionideahmmbegwhewchucklesillyenvyshutmouth
  Subscribe  
Notify of