Precious Metals Rise Monday, Nov. 27, As Dollar Falls

Large silver bullion bar, smaller gold bar and nugget
Increases in precious metals futures ranged from 0.2% for silver to 0.7% for palladium

Precious metals futures rose modestly in their start to the new trading week on Monday. They gained support, opined analysts, as the U.S. dollar weakened.

Gold for December delivery tacked on $7.10, or 0.6%, to finish at $1,294.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Nov. 17.

"The charts show that the dollar rebound seems to have failed and, on the other side of the seesaw, gold seems to be bouncing higher," MarketWatch quoted Brien Lundin, editor of Gold Newsletter, told MarketWatch. "This is happening earlier than in the previous two years, so traders may be factoring in the prior history and betting early."

Gold futures traded from a low of $1,286.20 to a high of $1,299. They declined 0.7% last week.

Meanwhile, silver for December delivery gained 2.8 cents, or about 0.2%, to settle at $17.02 an ounce. Silver futures ranged from $16.98 to $17.17. They dropped 2.2% last week.

In other precious metals prices:

  • January platinum added $5.50, or 0.6%, to $950.80 an ounce, trading between $940.20 and $952.90.

  • Palladium for December delivery advanced $7.35, or 0.7%, to $1,001.05 an ounce, ranging from $987.80 to $1,002.70.

Last week, platinum slipped 1% while palladium inched up roughly 0.1%.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:

  • Gold gained $4.40, or 0.3%, to 1,294.90 an ounce.
  • Silver rose 5 cents, or 0.3%, to $17.10 an ounce.

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

Last week in London bullion prices, gold added 0.5%, silver and platinum each shed 0.2%, and palladium rose 0.4%.

US Mint Bullion Sales in 2017

United States Mint bullion sales advanced by a combined 3,000 ounces in American Eagle and Buffalo gold coins and by 50,000 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 October November YTD
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 20,000
$25 American Eagle 1 Oz Palladium Coin* 0 0 0 0 15,000
$50 American Eagle 1 Oz Gold Coin 1,500 2,000 11,000 8,500 189,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 2,000 0 32,000
$10 American Eagle 1/4 Oz Gold Coin 2,000 0 2,000 2,000 60,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 30,000 10,000 370,000
$50 American Buffalo 1 Oz Gold Coin 1,000 0 7,000 2,000 85,500
$1 American Eagle 1 Oz Silver Coin 50,000 30,000 1,040,000 345,000 17,283,500
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
2017 George Rogers Clark 5 Oz Silver Coin 0 1,500 N/A 32,400 32,400
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Joe Brown

may silver start to rise and shine someday soon. ”’just a dream i* had” ioi.

Joe C.

To Joe Brown
I’m waiting for silver prices to fall so that I can buy.

Joe Brown

Joe C. I’m pretty much tap’d out from all the years of buying it low$, well that,s not all the reasons ”’y”” , someone is helping them ””self”’ to all the money in the cookie jar. *Joe, i don’t know myself but i would not wait to much longer, these hi wave*s on stock are kind of ko ko. SO! who stole all the money from the cookie jar, was it u, who me, no not me, then who stole all the money from the cookie jar? *smile

Joe C.

To Joe Brown
The banks, that’s who.

Joe Brown

no, it’s my cookie jar’ no 5% to 8% for a savings account no more. Bring back the good % rates and still have good low rates for buying homes & low refinance rates.