Gold Logs First Increase In Four Sessions

by CoinNews.net on October 23, 2019 · 0 comments

Gold bars

Gold futures rose 0.6% on Wednesday, Oct. 23

Gold, silver and platinum futures gained Wednesday while palladium declined. Gold’s gain was the first in four sessions.

Gold for December delivery tacked on $8.20, or 0.6%, to settle at $1,495.70 an ounce on the Comex division of the New York Mercantile Exchange.

"The bulls have the overall near-term technical advantage but a seven-week-old downtrend is still in place on the daily bar chart," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note. "Gold bulls’ next upside near-term price breakout objective is to produce a close above solid technical resistance at $1,525.00. Bears’ next near-term downside price breakout objective is pushing prices below solid technical support at the October low of $1,465.00."

Gold futures ranged from a low of $1,490.70 to a high of $1,499.40. They dipped 0.04% on Tuesday and they declined 0.4% on Monday.

Silver for December delivery rose 8 cents, or 0.5%, to settle at $17.58 an ounce. Silver futures traded between $17.51 and $17.63. They slipped 0.6% on Tuesday and they rose 0.1% on Monday.

In PGM futures on Wednesday:

  • January platinum jumped $26.40, or 3%, to $922.40 an ounce, ranging from $894 to $924.

  • Palladium for December delivery declined $13.90, or 0.8%, to $1,714.60 an ounce, trading between $1,703 and $1,734.60. Last Wednesday, they scored a record settlement of $1,735 an ounce.

London Precious Metals Prices

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

  • Gold added $9.10, or 0.6%, to $1,494.45 an ounce.
  • Silver fell 9 cents, or 0.5%, to $17.535 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)
Wednesday / This Week Last Week September October 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 4,500 3,500 8,000 98,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 1,000 1,000 25,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 4,000 34,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 10,000 20,000 190,000
$50 American Buffalo 1 Oz Gold Coin 0 3,000 2,500 3,000 55,000
$1 American Eagle 1 Oz Silver Coin 0 408,500 1,021,000 943,500 14,233,500
San Antonio Missions 5 Oz Silver Coin 0 500 37,700 17,500 55,200
War in the Pacific 5 Oz Silver Coin 0 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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