Precious Metals Decline on Monday, Jan. 22

by CoinNews.net on January 22, 2018 · 0 comments

Gold bullin bars

Gold and other metals declined on Monday, Jan 22

Precious metals futures kicked off the new trading week with losses on Monday that ranged from less than 0.1% for gold to 2.3% to platinum.

Gold for February delivery dipped $1.20 to settle at $1,331.90 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is shaking off an upside bounce to the dollar and looking at the possibility of a government shutdown," MarketWatch quoted Bob Haberkorn, senior market strategist at RJO Futures in Chicago.

Gold futures traded from a low of $1,328 to a high of $1,335.80. They edged 0.1% lower last week, snapping a string of five weekly gains.

Meanwhile, silver for March delivery lost 4.7 cents, or 0.3%, to settle at $16.989 an ounce. Silver futures ranged from $16.94 to $17.11. They declined 0.6% last week.

In other precious metals futures prices on Monday:

  • April platinum dropped $23.30 to $996.80 an ounce, trading between $994.80 and $1,023.90.

  • Palladium for March delivery declined $6.10, or 0.6%, to $1,092.30 an ounce, ranging from $1,078.30 to $1,105.45.

Last week, platinum rose 2.4% while palladium fell 0.6%.

London Precious Metals Prices

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

  • Gold declined $2.35, or 0.2%, to $1,332.60 an ounce.
  • Silver slipped a half penny, or less than 0.1%, to $17.035 an ounce.

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

Last week in LBMA precious metals prices, silver fell 0.5% while the other metals posted advances of 0.6% for gold, 2% for platinum and 1.3% for palladium.

US Mint Bullion Sales in 2018

United States Mint bullion sales advanced by a combined 9,000 ounces in gold coins and by 250,000 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.

US Mint Bullion Sales (# of coins)
Monday Last Week December 2017 Sales 2018 Sales
$50 American Eagle 1 Oz Gold Coin 4,500 3,500 38,000 228,500 35,000
$25 American Eagle 1/2 Oz Gold Coin 2,000 2,000 3,000 37,000 16,000
$10 American Eagle 1/4 Oz Gold Coin 2,000 0 4,000 64,000 26,000
$5 American Eagle 1/10 Oz Gold Coin 10,000 10,000 25,000 395,000 80,000
$50 American Buffalo 1 Oz Gold Coin 2,500 2,500 14,000 99,500 23,500
$1 American Eagle 1 Oz Silver Coin 250,000 250,000 742,000 18,065,500 3,020,000

{ 0 comments… add one now }

Leave a Comment