Gold Edges Higher to Start Last Week in September

gold bars, $100s and $50
Gold gained Monday as the U.S. dollar weakened

Gold futures moved higher in their start to the new trading week on Monday, posting their fifth day of gains in six sessions.

Gold for December delivery edged up $2.40, or 0.2%, to settle at $1,344.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices ended the U.S. day session modestly higher Monday, supported by the key ‘outside markets’ on this day: the U.S. dollar index was weaker and crude oil prices were solidly higher," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The marketplace is awaiting some big news events this week, which could provide some bigger price movement in several markets."

Gold futures ranged from a low of $1,336.50 to a high of $1,346.10. They advanced last week by 2.4%, their biggest weekly gain since the end of July.

Falling for a second session in a row after climbing for two straight, silver for December delivery declined 21.4 cents, or 1.1%, to settle at $19.596 an ounce. Silver futures traded from a low of $19.47 to a high of $19.83. They surged 5% last week.

Rounding out metals trading:

  • October platinum dropped $14.10, or 1.3%, to $1,042.90 an ounce, ranging from $1,038.10 to $1,057.80.

  • Palladium for December delivery settled down $10.25, or 1.5%, to $696.15 an ounce, trading between $688 and $702.40.

In their dealings last week, platinum and palladium futures logged gains of 3.9% and 5.1%.

London Precious Metals Prices

In comparing earlier fixed London bullion prices from Friday PM to Monday PM:

  • Gold added $1.85, or 0.1%, to $1,340.50 an ounce.
  • Silver fell 38 cents, or 1.9%, to $19.44 an ounce.

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

Last week, they registered gains of 2.3% for gold, 4.8% for silver, 4.2% for platinum and 6.3% for palladium.

US Mint Bullion Coin Sales in 2016

U.S. Mint bullion sales were unchanged Monday as of 3:34 p.m. Eastern Time. 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 (*) are no longer available.

US Mint Bullion Sales (# of coins)
Monday Sales Last Week Aug Sales Sept Sales 2016 Sales
$100 American Eagle 1 Oz Platinum Coins* 0 0 1,000 0 20,000
$50 American Eagle 1 Oz Gold Coins 0 17,000 50,000 55,000 541,000
$25 American Eagle 1/2 Oz Gold Coins 0 0 3,000 4,000 55,000
$10 American Eagle 1/4 Oz Gold Coins 0 0 4,000 10,000 110,000
$5 American Eagle 1/10 Oz Gold Coins 0 15,000 60,000 65,000 680,000
$50 American Buffalo 1 Oz Gold Coins 0 5,500 9,000 13,000 144,500
$1 American Eagle 1 Oz Silver Coins 0 255,000 1,280,000 1,305,000 30,205,500
2016 Shawnee 5 Oz Silver Coins* 0 0 0 0 105,000
2016 Cumberland Gap 5 Oz Silver Coins* 0 0 0 0 75,000
2016 Harpers Ferry 5 Oz Silver Coins 0 200 1,900 200 36,300
2016 Theodore Roosevelt 5 Oz Silver Coins 0 0 27,500 2,500 30,000


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Synoptic 12

As being bombarded with the aforesaid from other forums, we’ll respond. We have conducted past research as to the fluctuations in gold, as well as silver; i.e. > ‘As we examine the moon phases in a similar format’, “Not adjoined with metals”. We have found when the U.S. Mint offers a unique or one-off coin (Gold or Silver), or anything gathering public support, or ‘opinion’; “There seems to be a spike in the metals market”. Once the dust has cleared, ‘prices’ fall back again. These parameters have been well documented by us. Could this be a coincidence? Well, if the… Read more »