Palladium Scores Record; Gold, Silver and Platinum Decline

by CoinNews.net on November 27, 2019 · 0 comments

Three Gold Bullion Bars, Dark Background

Gold futures finished 0.5% lower Wed., Nov. 27

Most precious metals futures ended lower in pre-holiday trading Wednesday. Markets in the U.S. are closed Thursday for the Thanksgiving holiday and re-open to an abbreviated trading schedule on Friday. Palladium was the winner on the day, scoring a record settlement.

Gold for February delivery — the new, most active contract — declined $6.60, or 0.5%, to settle at $1,460.80 an ounce on the Comex division of the New York Mercantile Exchange.

"The global trader and investor environment at present is one of scant geopolitical concerns amid a booming U.S. stock market. That’s a bearish scenario for the safe-haven metals. However, such cannot continue indefinitely and veteran metals market bulls are biding their time," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,459.10 to a high of $1,469.10. They edged 0.2% higher on Tuesday and they declined 0.5% on Monday, marking their lowest settlement since Nov. 12.

Silver for March delivery — the new, most active contract — fell 13.3 cents, or 0.8%, to settle at $17.055 an ounce. Silver futures traded between $17.02 and $17.20. They gained 0.9% on Tuesday and they fell 0.7% on Monday, logging their lowest finish since Nov. 12.

In PGM futures on Wednesday:

  • January platinum declined $16.30, or 1.8%, to $895.40 an ounce, ranging from $891.30 to $911.80.

  • Palladium for March delivery advanced $23.90, or 1.3%, to a record settlement of $1,805.90 an ounce. Palladium traded between $1,771.30 and $1,808.80.

London Precious Metals Prices

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

  • Gold dipped 30 cents, or 0.02%, to $1,454.35 an ounce.
  • Silver rose 12 cents, or 0.7%, to $17.055 an ounce.

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 Last Week This Week October November 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 3,000 0 8,000 8,000 106,000
$25 American Eagle 1/2 Oz Gold Coin* 0 0 0 1,000 5,000 30,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 4,000 2,000 36,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 20,000 0 190,000
$50 American Buffalo 1 Oz Gold Coin 0 2,500 0 3,000 5,000 60,000
$1 American Eagle 1 Oz Silver Coin 0 233,000 0 1,110,500 463,000 14,863,500
Frank Church River of No Return Wilderness 5 Oz Silver Coin 0 13,500 6,500 N/A 20,000 20,000
San Antonio Missions 5 Oz Silver Coin 0 0 0 17,500 0 55,200
War in the Pacific 5 Oz Silver Coin 0 0 0 500 0 72,500
American Memorial Park 5 Oz Silver Coin* 0 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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