Gold Hits 2-Month High, Silver Ekes Out Gain

Three Gold Bullion Bars, Dark Background
Gold and silver logged gains Wednesday while platinum and palladium declined

Gold futures extended their winning streak to four straight sessions and settled at a two-month high as demand for safe-havens climbed.

Gold for February delivery tacked on $13.50, or 1.3%, to finish at $1,091.90 an ounce on the Comex division of the New York Mercantile Exchange. The close was the highest since Nov. 5 when gold ended at $1,104.20 an ounce.

"The world has begun 2016 in a bad mood and gold is a natural beneficiary," Matthew Turner, an analyst at Macquarie Group Ltd. in London, said by phone according to Bloomberg News. "Because global markets are in this negative mindset, the North Korea nuclear test is more supportive for gold than would have been the case at other times."

Gold prices ranged from a low of $1,074.40 to a high of $1,094.80. The yellow metal gained 0.3% on Tuesday, 1.4% on Monday and less than 0.1% on Thursday.

Higher for a third session in a row, silver for March delivery added a half cent to settle at $13.976 an ounce. Silver prices traded between $13.85 and $14.14. The close was the highest since Dec. 24 when silver ended at $14.379 an ounce. Silver gained 0.9% on Tuesday and 0.3% on Monday.

In other precious metals futures on Wednesday:

  • April platinum declined $15, or 1.7%, to $875 an ounce, ranging from $873.70 to $893.

  • Palladium for March delivery tumbled $30.70, or 5.7%, to $505.05 an ounce, trading between $503.10 and $538.55.

London Precious Metals Prices

Earlier fixed London gold and silver prices were mixed. In comparing their levels from Tuesday PM to Wednesday PM:

  • Gold added $14.40, or 1.3%, to $1,091.40 an ounce.
  • Silver shed a half cent, or less than 0.1%, to $14.01 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint Bullion Coin Sales in 2016

United States Mint bullion sales will take off next Monday, Jan. 11, when newly 2016-coins become available. Most of the 2015-dated issues sold out with product series scoring multi-year highs, like American Gold Buffalo and ATB five ounce silver coins, and an annual record, like American Silver Eagles.

Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold during varying periods. Products with an asterisk (*) have sold out.

US Mint Bullion Sales (# of coins)
Wednesday / This Week Last Week Dec Sales 2015 Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins* N/A N/A N/A 626,500 N/A
$25 American Eagle 1/2 Oz Gold Coins 0 0 1,000 75,000 0
$10 American Eagle 1/4 Oz Gold Coins* N/A N/A N/A 158,000 N/A
$5 American Eagle 1/10 Oz Gold Coins* N/A N/A N/A 980,000 N/A
$50 American Buffalo 1 Oz Gold Coins 0 0 1,500 220,500 0
$1 American Eagle 1 Oz Silver Coins* N/A N/A 2,333,500 47,000,000 N/A
2015 Homestead 5 Oz Silver Coins* N/A 35,000 N/A
2015 Kisatchie 5 Oz Silver Coins* 42,000
2015 Blue Ridge Parkway 5 Oz Silver Coins* 45,000
2015 Bombay Hook 5 Oz Silver Coins* 45,000
2015 Saratoga 5 Oz Silver Coins* N/A 9,200 45,000
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Seth Riesling

Mike Unser –

Since the Mint’s AP’s haven’t purchased any of the two 2015 gold bullion coins still available in weeks, can you find out how many of the 2015 gold bullion version American Eagle $25 half-ounce & American Buffalo $50 one-ounce coins are still available? The U.S. Mint’s AP’s will have to purchase them eventually as in past years I assume!
Thanks so much Mr. Unser.