Gold Settles Near 10-Week High

one-ounce gold, sqare bars
Gold futures closed at their highest level since Nov. 17

Gold and silver futures each started the new trading week with 0.9% gains. Gold’s advance was a second in a row, after falling for two straight, with prices ending at an almost 10-week high.

Gold for February delivery tacked on $10.70 to finish at $1,215.60 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Nov. 17.

“The story is one of a weaker dollar and political uncertainty,” Reuters quoted Danske Bank analyst Jens Pedersen.

Gold futures ranged from a low of $1,209 to a high of $1,219.40. They gained 0.7% last week, for their fourth straight weekly advance.

Ending higher for the fourth time in five sessions, silver for March delivery rose 15.4 cents to $17.186 an ounce. Silver futures traded between $17.07 and $17.29. Riding three straight weeks of increases, they drove ahead last week by 1.6%.

In other precious metals futures dealings:

  • April platinum settled up $3.90, or 0.4%, to $979.90 an ounce, ranging from $976.80 to $988.50.

  • Palladium for March delivery dropped $16.90, or 2.1%, to $771.50 an ounce, trading between $770.10 and $797.50.

Last week, platinum declined 1.1% and palladium rallied 5.2%.

London Precious Metals Prices

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

  • Gold added $12.30, or 1%, to $1,212.85 an ounce.
  • Silver added 25 cents, or 1.5%, to $17.14 an ounce.

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

Last week, platinum fell 0.8% and the other metal prices climbed by 0.9% for gold, 0.8% for silver and 2% for palladium.

US Mint Bullion Coin Sales in 2017

The United States Mint did not update bullion sales figures as of 5:22 p.m. ET. An increase is expected for American Platinum Eagles, minimally, since the new 2017-dated edition launched earlier in the day.

Update: The table of sales below was edited Jan. 24 to include updated figures for Monday.

Below is a sales breakdown of U.S. bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Monday Sales Last Week Dec Sales Jan Sales
$100 American Eagle 1 Oz Platinum Coin 13,300 13,300
$50 American Eagle 1 Oz Gold Coin 4,000 14,500 23,000 74,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 3,000 18,000
$10 American Eagle 1/4 Oz Gold Coin 0 4,000 2,000 34,000
$5 American Eagle 1/10 Oz Gold Coin 15,000 10,000 40,000 110,000
$50 American Buffalo 1 Oz Gold Coin 1,500 2,000 12,500 28,000
$1 American Eagle 1 Oz Silver Coin 150,000 825,000 240,000 4,722,500
2016 Shawnee 5 Oz Silver Coins*
2016 Cumberland Gap 5 Oz Silver Coin*
2016 Harpers Ferry 5 Oz Silver Coin 0 0 100 0
2016 Theodore Roosevelt 5 Oz Silver Coin* 800
2016 Fort Moultrie 5 Oz Silver Coin 0 0 0 0


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Seth Riesling

The US Mint is planning, if their production schedule permits, on issuing Proof fractional gold American Buffalo coins sometime this year. So far, they only produced them in 2008. Their schedule is fairly full already with a new 1-ounce $25 palladium American Eagle coin among other special coins for their 225th anniversary. They are producing Lincoln cents with a “P” Mint mark this year only for the first time since cents were first produced at the Philadelphia Mint in 1793.
Lots of surprises to come!



Seth Once again thanks for the information. It would be great to have the gold American Buffalo in something else other than an ounce coin. That way there would be an affordable options for some of us to get the American Gold Buffalo. I have thought about getting some gold Buffalos bullions from some private mints but I’m not too sure about going that route. Some of them don’t look very good compared to the US Mint’s Gold American Buffalo. Do you know of any private mints that do offer smaller versions bullions of the gold American Buffalo that also… Read more »

Seth Riesling

joera –

I purchase some bronze & silver medals from private Mints once in awhile, but due to the large amount of counterfeiting going on nowadays, especially from China, I would not purchase gold or platinum from private Mints. Sticking to an official government Mint’s coin products is safest as long as you purchase directly from the Mint or such as the US Mint’s 13 official bullion coin Authorized Purchasers. That way you have a guarantee of authenticity backed by the government.