Most precious metals futures kicked of the new trading week with gains, led by gold which returned above the $1,300 an ounce level.
Gold for December delivery advanced $14, or 1.1%, to settle at $1,311.50 an ounce on the Comex division of the New York Mercantile Exchange.
"More safe-haven demand was featured after news reports surfaced at late-morning that a North Korean government official said weekend comments from U.S. President Donald Trump about his country are a declaration of war against the his country," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
Gold futures traded from a low of $1,291.70 to a high of $1,313.80. They dropped 2.1% last week for their second consecutive weekly loss.
Silver for December delivery added 16.3 cents, or 1%, to settle at $17.147 an ounce. Silver futures ranged between $16.87 and $17.20. They tumbled 4.1% last week, ending at their lowest price since Aug. 24.
In other precious metals futures prices on Monday:
-
October platinum gained $8.10, or 0.9%, to $940.20 an ounce, trading between $925.80 and $941.40.
- Palladium for December delivery declined $10.15, or 1.1%, to $909.70 an ounce, ranging from $907 to $923.75.
Both metals declined last week with losses of 4.1% for platinum and 0.2% for palladium.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold declined $1.50, or 0.1%, to 1,293.30 an ounce.
- Silver dipped 2 cents, or 0.1%, to $16.95 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
London bullion prices last week logged declines of 2.1% for gold, 4.1% for silver, 4.2% for platinum and 0.9% for palladium.
US Mint Bullion Sales in 2017
United States Mint bullion sales registered gains on Monday that reached:
- 15,000 ounces in American Palladium Eagles,
- 3,000 ounces American Gold Eagles, and
- 195,000 ounces in American Silver Eagles.
Monday marked the first day of sales for American Palladium Eagles. The new 1-ounce, .9995 palladium series features adaptations of designs by famed sculptor Adolph A. Weinman. (See images of the palladium coin.) The U.S. Mint is rationing their supply of the bullion coins; while not revealing their mintage.
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 | Last Week | August | September | YTD | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 20,000 |
| $25 American Eagle 1 Oz Palladium Coin | 15,000 | N/A | N/A | 15,000 | 15,000 |
| $50 American Eagle 1 Oz Gold Coin | 2,000 | 2,000 | 6,500 | 8,000 | 170,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 1,000 | 0 | 2,000 | 1,000 | 30,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 2,000 | 2,000 | 56,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 5,000 | 5,000 | 15,000 | 25,000 | 330,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 1,500 | 3,000 | 1,500 | 76,500 |
| $1 American Eagle 1 Oz Silver Coin | 195,000 | 50,000 | 1,025,000 | 320,000 | 15,898,500 |
| 2017 Effigy Mounds 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 35,000 |
| 2017 Frederick Douglass 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 20,000 |
| 2017 Ozark Riverways 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 20,000 |
| 2017 Ellis Island 5 Oz Silver Coin* | 0 | 0 | 40,000 | 0 | 40,000 |
