Gold Slips; Palladium Notches Record Near $1,780

by CoinNews.net on October 28, 2019 · 0 comments

Palladium

Palladium prices closed Oct. 28 at a new record of $1,779.30 an ounce

Gold, silver and platinum futures traded lower Monday. Palladium, meanwhile, registered another record settlement.

Gold for December delivery declined $9.50, or 0.6%, to settle at $1,495.80 an ounce on the Comex division of the New York Mercantile Exchange.

"It’s a risk-on sentiment – people are getting out of the safe-haven trade, out of gold and going into equities," Reuters quoted Phillip Streible, senior commodities strategist at RJO Futures.

Gold futures ranged from a low of $1,492.30 to a high of $1,510.80. They finished 0.8% higher last week, ending Friday at their best price since Oct. 9.

Silver for December delivery dipped 5 cents, or 0.3%, to settle at $17.876 an ounce. Silver futures traded between $17.78 and $18.15. They rallied last week by 2%, closing Friday at their highest price since Sept. 25.

In other precious metals futures Monday:

  • January platinum lost $14.30, or 1.5%, to $919 an ounce, ranging from $917.30 to $938.50.

  • Palladium for December delivery tacked on $35.10, or 2%, to a record settlement of $1,779.30 an ounce. Palladium futures traded between $1,740.40 and $1,784.90.

Last week, platinum soared 4.2% and palladium rose 1.6%.

London Precious Metals Prices

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

  • Gold fell $21.05, or 1.4%, to $1,492.40 an ounce.
  • Silver declined 7 cents, or 0.4%, to $18.055 an ounce.

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

In LBMA results last week, metal prices rose 6% for gold, 4% for silver, and 5.1% for platinum.

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)
Monday Last Week September October 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 0 3,500 8,000 98,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 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 0 10,000 20,000 190,000
$50 American Buffalo 1 Oz Gold Coin 0 0 2,500 3,000 55,000
$1 American Eagle 1 Oz Silver Coin 0 0 1,021,000 943,500 14,233,500
San Antonio Missions 5 Oz Silver Coin 0 0 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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