Gold Gains; Palladium Logs Record Above $1,792

by CoinNews.net on October 30, 2019 · 0 comments

Bullion gold bars and US $100s.

Gold futures climbed 0.4% on Wednesday, Oct. 30

Precious metals futures posted gains Wednesday ranging from 0.2% for silver to 2.1% for palladium. The latter scored its second record in a row. Increases in gold and silver were their first in three days. Platinum extended its wins to six in seven sessions.

Gold for December delivery added $6, or 0.4%, to settle at $1,496.70 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices are modestly up in afternoon U.S. trading Wednesday and showed little reaction to an as-expected slight reduction in the key U.S. interest rate — the Fed funds rate," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note. "Some stronger-than-expected U.S. economic data released earlier today did put slight pressure on the precious metals as they came off their overnight highs."

Gold futures ranged from a low of $1,483.10 to a high of $1,499.30. They shed 0.3% on Tuesday and they ended 0.6% lower on Monday.

Silver for December delivery rose 3.6 cents to settle at $17.867 an ounce. Silver futures traded between $17.59 and $17.97. They declined 0.3% on Tuesday and they dipped 0.3% on Monday.

In PGM futures Wednesday:

  • January platinum added $5.50, or 0.6%, to $930.60 an ounce, ranging from $918.30 to $931.90.

  • Palladium for December delivery rallied $37 to a record settlement of $1,792.10 an ounce. Palladium traded between $1,750.10 and $1,799.20.

London Precious Metals Prices

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

  • Gold rose $5.35, or 0.4%, to $1,492.10 an ounce.
  • Silver fell 29.5 cents, or 1.7%, to $17.955 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 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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