Precious metals futures ended lower in their start to the new trading week on Monday. Losses in gold, silver, and platinum were especially modest.
Gold for December delivery shed $1.60, or 0.1%, to settle at $1,303 an ounce on the Comex division of the New York Mercantile Exchange.
"You’re seeing a little bit of profit-taking," Reuters quoted Bob Haberkorn, senior market strategist for RJO Futures in Chicago. "There’s a reluctance to take too much off the table because of some of the geopolitical risks that are out there."
Gold futures traded from a low of $1,301.10 to a high of $1,308.40. They traded 2.3% higher last week, ending at their strongest level since Sept. 25.
Meanwhile, silver for December delivery lost 4.2 cents, or 0.2%, to end at $17.369 an ounce. Silver futures ranged from $17.33 to $17.50. They jumped 3.7% last week, closing at their highest price since Sept. 15.
In other precious metals future:
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January platinum declined $5.80, or 0.6%, to $942.10 an ounce, trading between $930.60 and $950.90.
- Palladium for December delivery fell $9.20, or 0.9%, to $976.30 an ounce, ranging from $966.75 to $1,005.
Last week, platinum gained 3.4% and palladium surged 7.2%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold added $3.70, or 0.3%, to 1,303.30 an ounce.
- Silver gained 21 cents, or 1.2%, to $17.41 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
Last week, London bullion prices advanced by 3% for gold, 3.5% for silver, 3.3% for platinum and 5.6% for palladium.
US Mint Bullion Sales in 2017
United States Mint bullion sales climbed by a combined 4,500 ounces in American Eagle and Buffalo gold coins and by 450,000 ounces in American Silver Eagles.
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 | September | October | YTD | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 20,000 |
| $25 American Eagle 1 Oz Palladium Coin* | 0 | 0 | 15,000 | 0 | 15,000 |
| $50 American Eagle 1 Oz Gold Coin | 1,000 | 3,000 | 8,000 | 6,500 | 176,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 1,000 | 2,000 | 32,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 2,000 | 0 | 2,000 | 2,000 | 58,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 15,000 | 0 | 25,000 | 20,000 | 350,000 |
| $50 American Buffalo 1 Oz Gold Coin | 1,500 | 1,000 | 1,500 | 3,500 | 80,000 |
| $1 American Eagle 1 Oz Silver Coin | 450,000 | 150,000 | 320,000 | 750,000 | 16,648,500 |
| 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 | 0 | 0 | 40,000 |
