Gold, Silver Drop for First Session in Three, US Bullion Sales Rise

Gold and silver bars, gold coins
Though gold and silver fell, all bullion options offered by the U.S. Mint climbed

Gold and silver retreated in starting the new trading week on Monday. Their losses mark the first in three sessions.

Gold for December delivery declined $15.10, or 1.2%, to finish at $1,272.30 an ounce on the Comex division of the New York Mercantile Exchange. Prices ranged from a low of $1,269.20 to a high of $1,289.20. Investors on Monday were more interested in stocks than safe-havens, opined analysts.

U.S. equity markets have attracted capital, "with further rotation out of safe-haven assets such as gold," MarketWatch quoted Jeffrey Wright, managing director at H.C. Wainwright.

"We see further near-term pressure but only of a moderate extent on gold until equity markets pull back off record levels," he said

Last week, gold prices inched 0.2% higher while silver prices plummeted 2.8%.

On Monday, silver for December delivery lost 37 cents, or 1.8%, to close at $20.36 an ounce. The white metal traded between $20.29 and $20.80.

In rounding out the precious metals complex for Monday:

  • January platinum fell $27.90, or 1.9%, to $1,411 an ounce, ranging from $1,410.60 and $1,442.

  • Palladium for December delivery shed $15.90, or 2.2%, to $716.75 an ounce, trading between $716 and $733.40.

Last week, platinum dropped 0.3% and palladium fell 3.3%.

London Fix Precious Metals

London bullion fixings were mostly lower Monday. When comparing Friday PM to Monday PM London fix prices:

  • Gold shed $3.75, or 0.3%, to $1,283.50 an ounce,
  • Silver added a half cent to $20.64 an ounce,
  • Platinum declined $8, or 0.6%, to $1,430 an ounce, and
  • Palladium fell $2, or 0.3%, to $727 an ounce

Last week, London gold gained 0.1% while silver fell 4.9%, platinum slipped 0.6% and palladium declined 3.7%.

US Mint Bullion Sales in November

In a rarity of rares, all United States Mint bullion options gained on Monday. In total ounces, gold coins rose 7,000 ounces and silver coins added 368,000 ounces.

Bullion sales for the day, week-to-date, for the month through Nov. 18, and the year-to-date are listed below.

American Eagle and Buffalo Bullion Sales (# of coins)
Monday / Week-To-Date Sales Last Week November Sales YTD Sales
$50 American Gold Eagle Bullion Coins 4,500 10,000 25,000 671,000
$25 American Gold Eagle Bullion Coins 1,000 1,000 2,000 58,000
$10 American Gold Eagle Bullion Coins 2,000 0 4,000 118,000
$5 American Gold Eagle Bullion Coins 5,000 10,000 20,000 520,000
$50 American Buffalo Gold Bullion Coins 1,000 5,000 7,000 225,000
White Mountain 5 oz. Silver Bullion Coins Sold Out 35,000
Perry’s Victory 5 oz. Silver Bullion Coins 100 600 700 26,900
Great Basin 5 oz. Silver Bullion Coins 200 600 800 28,000
Fort McHenry 5 oz. Silver Bullion Coins 100 400 1,500 29,700
Mount Rushmore 5 oz. Silver Bullion Coins 1,000 19,100 26,100 26,100
American Silver Eagle Bullion Coins 361,000 500,000 1,361,000 40,536,000


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