Palladium Posts New Record in December Start; Gold and Silver Decline

by CoinNews.net on December 2, 2019 · 0 comments

Palladium

Palladium prices closed Dec. 2 at a new record of $1,824.70 an ounce

Palladium futures logged another record in their start on Monday to the new trading week and month. Other metals, however, declined.

Gold for February delivery shed $3.50, or 0.2%, to settle at $1,469.20 an ounce on the Comex division of the New York Mercantile Exchange.

"A sudden rise in risk aversion among market participants on Friday allowed the gold price to gain by a good $10 to $1,465 per troy ounce in a matter of hours," MarketWatch quoted Daniel Briesemann, analyst at Commerzbank, in a note. "Relatively good Chinese data" caused the gold prices to correct again on Monday, he added.

Gold futures ranged from a low of $1,459.80 to a high of $1,471.70. They advanced 0.6% last week, trimming their loss in November to 2.8%.

Silver for March delivery declined 14 cents, or 0.8%, to close at $16.966 an ounce. Silver futures traded between $16.89 and $17.10. They also gained 0.6% last week, while plunging 5.3% in November.

In other precious metals futures prices on Monday:

  • January platinum slipped 70 cents, or 0.08%, to $899.70 an ounce, ranging from $892.80 to $906.30.

  • Palladium for March delivery tacked on $14.60, or 0.8%, to a record settlement of $1,824.70 an ounce. Palladium traded between $1,808.70 and $1,835.40.

London Precious Metals Prices

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

  • Gold rose $1, or 0.07%, to $1,461.15 an ounce.
  • Silver dipped 9 cents, or 0.5%, to $16.875 an ounce.

US Mint 2019 Bullion Sales

United States Mint bullion sales were unchanged Monday. 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 / This Week / December Last Week October November 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 0 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 0 4,000 2,000 38,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 20,000 0 195,000
$50 American Buffalo 1 Oz Gold Coin 0 0 3,000 5,000 60,000
$1 American Eagle 1 Oz Silver Coin 0 0 1,110,500 463,000 14,863,500
Frank Church River of No Return Wilderness 5 Oz Silver Coin 0 6,500 N/A 20,000 20,000
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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