Gold Slips 0.8%; Palladium Hits Another Record

by CoinNews.net on October 10, 2019 · 0 comments

Bullion Bar and Gold Bullion Coins

Gold closed 0.8% lower Thursday, Oct. 10

Precious metals futures divided Thursday with platinum and palladium rising and gold and silver falling. Palladium posted another all-time record while gold closed at a more than one-week low.

Gold for December delivery declined $11.90, or 0.8%, to settle at $1,500.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Oct. 1.

"Risk aversion is not keen late this week, which is not working in favor the safe-haven metals," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

"The bulls still have the overall near-term technical advantage but a four-week-old downtrend is still in place on the daily bar chart," Wyckoff added.

Gold futures ranged from a low of $1,496.20 to a high of $1,522.30. They gained 0.6% on Wednesday, dipped 0.03% on Tuesday, and declined 0.6% on Monday.

Silver for December delivery fell 20.8 cents, or 1.2%, to settle at $17.602 an ounce. Silver futures traded between $17.45 and $17.94. They advanced 0.6% on Wednesday, rose 0.9% on Tuesday, and fell 0.5% on Monday.

In other precious metals futures prices Thursday:

  • January platinum tacked on $11.20, or 1.3%, to $907.90 an ounce, ranging from $887.60 to $908.70.

  • Palladium for December delivery rose $21.20, or 1.3%, to a record settlement of $1,675.90 an ounce, Palladium traded between $1,645 and $1,677.30.

London Precious Metals Prices

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

  • Gold declined $12.45, or 0.8%, to $1,494.80 an ounce.
  • Silver slipped 3 cents, or 0.2%, to $17.75 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 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 0 565,000 255,000 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

 

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