Gold, silver and other precious metals settled higher to start the new trading week on Monday.
Gold for December delivery advanced $5.70, or 0.5%, to close at $1,244.70 an ounce on the Comex division of the New York Mercantile Exchange.
"While the sentiment towards gold has been soured given little inflationary pressure," according to analysts at Sharps Pixley, "the global equity rout and the on-going geopolitical risks have led to a rising demand for gold as an uncertainty and a portfolio hedge."
Gold prices ranged from a low of $1,234.90 to a high of $1,249.30. Last week gold prices rose 1.4%.
Silver for December delivery gained 2 cents, or 0.1%, to close at $17.35 an ounce. Silver traded from $17.25 to $17.52. Prices climbed 0.2% last week.
In PGM futures on Monday:
-
January platinum gained $6, or 0.5%, to $1,267.50 an ounce, ranging from $1,257.60 and $1,274.90.
- Palladium for December delivery added $5.60, or 0.7%, to $762.30 an ounce, trading between $753.70 and $764.50.
Last week, platinum slipped 10 cents and palladium declined 3.6%.
London Fix Precious Metals
Earlier fixed London precious metals also advanced. When comparing London bullion Fix prices from Friday PM to Monday PM:
- Gold rose $10.25, or 0.8%, to $1,244.50 an ounce,
- Silver edged up 2 cents, or 0.1%, to $17.38,
- Platinum added $9, or 0.7%, to $1,268 an ounce, and
- Palladium rose $3, or 0.4%, to $756 an ounce
Last week, palladium fell 4% and other metals gained — 1.3% for gold, 0.6% for silver, and 0.2% for platinum.
US Mint Bullion Coin Sales in October
United States Mint coin sales were unchanged Monday. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold last week, last month, in October, and the year to date.
| American Eagle and Buffalo Bullion Sales (# of coins) | |||||
|---|---|---|---|---|---|
| Monday Sales | Last Week | September Sales | October Sales | YTD Sales | |
| $100 American Platinum Eagle Bullion Coins | N/A* | 2,700 | 400 | 16,700 | |
| $50 American Eagle Bullion Gold Coins | 0 | 6,500 | 50,500 | 35,000 | 331,000 |
| $25 American Eagle Bullion Gold Coins | 0 | 1,000 | 6,000 | 5,000 | 37,000 |
| $10 American Eagle Bullion Gold Coins | 0 | 2,000 | 8,000 | 8,000 | 100,000 |
| $5 American Eagle Bullion Gold Coins | 0 | 20,000 | 30,000 | 30,000 | 470,000 |
| $50 American Buffalo Bullion Gold Coins | 0 | 6,000 | 14,500 | 17,000 | 156,500 |
| $1 American Eagle Silver Bullion Coins | 0 | 580,000 | 4,140,000 | 3,100,000 | 35,351,000 |
| Great Smoky Mountains National Park 5 Oz Silver Bullion Coins | 0 | 0 | 3,500 | 0 | 33,000 |
| Shenandoah National Park 5 Oz Silver Bullion Coins | 0 | 0 | 1,000 | 0 | 21,500 |
| Arches National Park 5 Oz Silver Bullion Coins | 0 | 0 | 800 | 0 | 22,000 |
| Great Sand Dunes 5 Oz Silver Bullion Coins | 0 | 1,500 | 4,500 | 2,800 | 14,800 |
*The U.S. Mint stopped selling bullion Platinum Eagles on Oct. 1. The agency will begin selling 2015-dated issues in early January.
