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:
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)|
|$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|