Gold, Silver and Platinum Log First Gains in Five Sessions

by CoinNews.net on November 13, 2019 · 0 comments

Silver bullion bar, four gold bullion bars

Gains in precious metals ranged from 0.3% for palladium to 1.3% for silver

Precious metals futures advanced Wednesday. Gains in gold, silver and platinum were their first in five sessions. On Tuesday, gold and silver closed at more than three-month lows. Palladium, meanwhile, moved ahead for a second day in a row.

Gold for December delivery rose $9.60, or 0.7%, to settle at $1,463.30 an ounce on the Comex division of the New York Mercantile Exchange.

"The precious metals are seeing some safe-haven demand at mid-week, along with some short covering in the futures markets, from the shorter-term traders, following recent selling pressure," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,456.40 to a high of $1,467.60. They declined 0.2% Tuesday, ending at their worst level since Aug. 1, and they shed 0.4% on Monday.

Silver for December delivery tacked on 22.1 cents, or 1.3%, to close at $16.913 an ounce. Silver futures traded between $16.72 and $17. They fell 0.7% on Tuesday, for their lowest settlement since Aug. 6, and they dipped 0.1% on Monday.

In PGM futures on Wednesday:

  • January platinum settled up $4.90, or 0.6%, to $874.80 an ounce, ranging from $869.60 to $879.70.

  • Palladium for December delivery added $5, or 0.3%, to $1,675.10 an ounce, trading between $1,661 and $1,698.20.

London Precious Metals Prices

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

  • Gold rose $10.85, or 0.8%, to $1,462.90 an ounce.
  • Silver gained 21.5 cents, 1.3%, to $16.95 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 coins posted their first gains of the week. The Mint’s gold coins rose by a combined 9,000 ounces and its silver coins rose by 65,000 ounces.

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 October November 2019 Sales
$50 American Eagle 1 Oz Gold Coin 5,000 0 8,000 5,000 103,000
$25 American Eagle 1/2 Oz Gold Coin 3,000 2,000 1,000 5,000 30,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 4,000 0 34,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 20,000 0 190,000
$50 American Buffalo 1 Oz Gold Coin 2,500 0 3,000 2,500 57,500
$1 American Eagle 1 Oz Silver Coin 65,000 165,000 1,110,500 230,000 14,630500
San Antonio Missions 5 Oz Silver Coin 0 0 17,500 0 55,200
War in the Pacific 5 Oz Silver Coin 0 0 500 0 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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