Gold Hits 20-Week Low, Silver Eagle Bullion Coins Top 41M

Silver Eagle Bullion Coin and Bar
On Monday, silver gained for the first time in six sessions and U.S. Mint Silver Eagle bullion coins topped 41 million in sales

Gold declined to start the new trading week Monday, falling for the third time in four sessions and closing at its lowest price in 20 weeks.

Gold for December delivery shed $2.90, or 0.2%, to settle at $1,241.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement price is the lowest since July 8. Gold traded from a low of $1,225.70 to a high of $1,248.

"The market was pressured in part by a weekend announcement that Iran has agreed to end its nuclear weapons programs," said Jim Wyckoff, a senior analyst at Kitco Inc, in a daily note. "The key ‘outside markets’ were also in a bearish daily posture for the precious metals Monday, as the U.S. dollar index was higher and crude oil prices were lower.

Gold last week fell 3.4%, its biggest decline since the week ended Sept. 13.

Advancing for the first time in six sessions, silver for December delivery inched up 2 cents, or 0.1%, to end at $19.88 an ounce. Silver prices ranged from $19.57 to $20.02. Last week, silver prices plunged 4.2%.

In PGM futures on Monday:

  • January platinum dipped $4.90, or 0.4%, to $1,377.80 an ounce, trading between $1,374.20 and $1,389.50.

  • Palladium for December delivery gained $5.85, or 0.8%, to $719.90 an ounce, ranging from $708.95 to $725.05.

Losses for the two metals last week totaled 3.9% for platinum and 2.5% for palladium.

London Fix Precious Metals

London bullion fixings retreated on the day. When comparing Friday PM to Monday PM London fix prices:

  • Gold slipped $3.25, or 0.3%, to $1,243 an ounce,
  • Silver lost 22 cents, or 1.1%, to $19.71 an ounce,
  • Platinum declined $13, or 0.9%, to $1,383 an ounce, and
  • Palladium fell $3, or 0.4%, to $718 an ounce

Last week, the metals logged declines of 3.2% for gold, 3.4% for silver, 2.9% for platinum and 1.1% for palladium.

US Mint Bullion Sales in November

Silver Eagle bullion coins were alone Monday with gains, the U.S. Mint website shows. For each of the last three weeks, the coins have added 500,000 as the Mint limits sales and holds silver blanks in reserve for the striking of 2014-dated coins. The Silver Eagle on Monday rose 331,000 for a year-to-date total of 41,006,000, padding its sales record.

U.S. Mint bullion sales for day, the month through Nov. 25, 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 0 10,500 31,000 677,000
$25 American Gold Eagle Bullion Coins 0 1,000 2,000 58,000
$10 American Gold Eagle Bullion Coins 0 2,000 4,000 118,000
$5 American Gold Eagle Bullion Coins 0 5,000 20,000 520,000
$50 American Buffalo Gold Bullion Coins 0 2,000 8,000 226,000
White Mountain 5 oz. Silver Bullion Coins Sold Out 35,000
Perry’s Victory 5 oz. Silver Bullion Coins 0 300 900 27,100
Great Basin 5 oz. Silver Bullion Coins 0 800 1,400 28,600
Fort McHenry 5 oz. Silver Bullion Coins Sold Out 30,000
Mount Rushmore 5 oz. Silver Bullion Coins Sold Out 35,000
American Silver Eagle Bullion Coins 331,000 500,000 1,831,000 41,006,000


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