Gold Gains For Fifth Straight Session, Ends At More Than Three-Month High

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

One gold bullion bar and graph

Gold futures posted their fifth straight session win on Monday, Dec. 30

Gold futures started the new trading week on Monday with a fifth straight session increase and a fresh, more than three-month settlement high.

Gold for February delivery edged up 50 cents, or 0.03%, to close at $1,518.60 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the highest since gold ended at $1,540.20 an ounce on Sept. 24.

"Bullish charts and ideas of better consumer demand for precious metals in 2020 have been propelling prices," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

"A feature in a quieter marketplace recently has been the rally in gold prices. Gold is on track to post its best annual price performance since 2010, with a gain of around 18% for the year."

Gold futures ranged from a low of $1,513.50 to a high of $1,519.10. They rose 2.5% last week for their best week since the one ended Aug. 9.

Silver for March delivery added 5.8 cents, or 0.3%, to close at $18.001 an ounce. The settlement was the highest since Nov. 4 when silver ended at $18.066 an ounce. Silver futures traded between $17.83 and $18.02. They soared 4.2% last week.

In other precious metals prices on Monday:

  • April platinum added $8.80, or 0.9%, to $965.40 an ounce, ranging from $951.90 to $967.90.

  • Palladium for March delivery shed 70 cents, or 0.04%, to $1,880.50 an ounce, trading between $1,872.30 and $1,885.10.

Last week, platinum surged 4.7% and palladium rallied 4%.

London Precious Metals Prices

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

  • Gold rose $3.25, or 2%, to $1,514.75 an ounce.
  • Silver was unchanged at $17.825 an ounce.

In LBMA weekly results last week, gold gained 2.2% for gold and silver jumped 4.6%.

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)
Monday Last Week November December 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 0 8,000 2,000 108,000
$25 American Eagle 1/2 Oz Gold Coin* 0 0 5,000 0 30,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 0 38,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 0 195,000
$50 American Buffalo 1 Oz Gold Coin 0 0 5,000 1,500 61,500
$1 American Eagle 1 Oz Silver Coin 0 0 463,000 0 14,863,500
Frank Church River of No Return Wilderness 5 Oz Silver Coin 0 0 20,000 5,000 25,000
San Antonio Missions 5 Oz Silver Coin 0 0 0 0 55,200
War in the Pacific 5 Oz Silver Coin 0 0 0 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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