Gold and Silver Start Week Near Two-Week Lows

by CoinNews.net on November 25, 2019 · 0 comments

Small Gold Bullion Bars

Gold futures fell 0.5% on Monday, Nov. 25

Precious metals futures divided Monday with platinum and palladium rising and gold and silver falling. Gold and silver each ended the day near two-week lows.

Gold for December delivery declined $6.70, or 0.5%, to settle at $1,456.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Nov. 12.

"Improving risk appetite is never good news for gold prices, which are trading a little lower at the start of the week. The fact that this is being driven by promising trade headlines is only further damaging the yellow metal," MarketWatch quoted Craig Erlam, senior market analyst at Oanda.

Gold futures ranged from a low of $1,453.90 to a high of $1,462. They inched 0.3% lower last week.

Silver for December delivery shed 11.4 cents, or 0.7%, to settle at $16.886 an ounce. Silver futures traded between $16.82 and $16.96. They edged 0.3% higher last week. The close was also the lowest since Nov. 12.

In other precious metals futures prices on Monday:

  • January platinum gained $7.80, or 0.9%, to $900.40 an ounce, ranging from $891.50 to $903.10.

  • Palladium for December delivery tacked on $28, or 1.6%, to $1,771.40 an ounce, trading between $1,744 and $1,785.70.

The two metals divided last week with platinum sliding 0.2% and palladium rising 3.6%,

London Precious Metals Prices

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

  • Gold shed $6.05, or 0.4%, to $1,458.40 an ounce.
  • Silver dropped 30.5 cents, or 1.8%, to $16.87 an ounce.

In LBMA results last week, prices for gold slipped 0.2% while those for silver advanced 1.8%.

US Mint 2019 Bullion Sales

United States Mint bullion sales rose by 32,500 ounces in silver coins. 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 October November 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 3,000 8,000 8,000 106,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 5,000 30,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 4,000 2,000 36,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 20,000 0 190,000
$50 American Buffalo 1 Oz Gold Coin 0 2,500 3,000 5,000 60,000
$1 American Eagle 1 Oz Silver Coin 0 233,000 1,110,500 463,000 14,863,500
Frank Church River of No Return Wilderness 5 Oz Silver Coin 6,500 13,500 N/A 20,000 2,0000
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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