Precious metals futures posted fairly modest gains on Monday with gold rising for a second straight session and silver rebounding from an about three-week low.
Gold for December delivery climbed $5.90, or 0.5%, to settle at $1,277.70 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold and silver prices ended the U.S. day session firmer Monday, supported by bullish ‘outside market’ forces that saw a weaker U.S. dollar and rising crude oil prices," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Short covering (the buying back of previously sold, or short, futures positions) was featured in gold and silver markets today."
Gold futures ranged from a low of 1,269.80 to a high of $1,279.90. They declined 0.7% last week.
Silver for December delivery added 9.5 cents, or 0.6%, to settle at $16.847 an ounce. Silver futures traded between $16.69 and $16.87. They gave back 1.9% last week, ending at their lowest price since Oct. 5.
In other precious metals futures prices:
January platinum gained $8.10, or 0.9%, to $922.70 an ounce, ranging from $916.50 to $922.90.
- Palladium for December delivery settled up $4.40, or 0.5%, to $962.65 an ounce, trading between $962 and $971.80.
Last week, the two metals logged respective losses of 1.3% and 1.2%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold rose $5.55, or 0.4%, to 1,272 an ounce.
- Silver added 1.5 cents, or nearly 0.1%, to $16.735 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
Last week, London bullion prices registered declines of 1.2% for gold, 2.1% for silver, 0.2% for platinum and 0.4% for palladium.
US Mint Bullion Sales in 2017
United States Mint bullion sales advanced by 3,000 ounces in gold coins and by 40,000 ounces in silver coins. 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||2,000||8,000||11,000||181,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||1,000||2,000||32,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||2,000||58,000|
|$5 American Eagle 1/10 Oz Gold Coin||5,000||0||25,000||30,000||3605,000|
|$50 American Buffalo 1 Oz Gold Coin||1,500||1,000||1,500||7,000||83,500|
|$1 American Eagle 1 Oz Silver Coin||40,000||250,000||320,000||1,040,000||16,938,500|
|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|
This article was edited with updated U.S. Mint bullion figures.