Gold Marks 11-Week High, Silver Logs 7-Week High

by CoinNews.net on October 15, 2018 · 0 comments

One gold bullion bar and graph

Gold ended at its highest close since July 31

Precious metals posted gains on Monday ranging from 0.6% for silver to 1.6% for palladium. Gold’s close was its best in eleven week.

Gold for December delivery rose $8.30, or 0.7%, to settle at $1,230.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since gold finished at $1,233.60 an ounce on July 31.

"The yellow metal has risen as investors are seeking safety as global [equities] continue to drop," MarketWatch quoted Alfonso Esparza, senior market analyst at Oanda. "Geopolitics events have snowballed around the globe and traders have to value the possible impacts of a trade war between the U.S. and China, Brexit negotiations, monetary policy divergence between major central banks and a global growth slowdown."

Gold futures ranged from a low of $1,220.40 to a high of $1,236.90. They gained 1.4% last week.

Silver for December added 9.2 cents to end at $14.727 an ounce. The settlement is the strongest since silver closed at $14.774 an ounce on Aug. 28. Silver futures traded between $14.61 and $14.81. They edged 0.1% lower last week.

In other precious metals futures prices on Monday:

  • January platinum advanced $6.30, or 0.8%, to $846.30 an ounce, ranging from $841.70 to $854.50.

  • Palladium for December delivery gained $17.40 to $1,078.20 an ounce, trading between $1,059.60 to $1,083.60.

The pair last week logged respective gains of 1.9% and 0.4%.

London Precious Metals Prices

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

  • Gold added $10.20, or 0.8%, to 1,229.95 an ounce.
  • Silver added 14 cents, or 1%, to $14.74 an ounce.

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

In LBMA results last week, prices for silver dipped 0.2% while those for others registered gains of 1.3% for gold, 1.7% for platinum, and 2.2% for palladium.

US Mint Bullion Sales in 2018

United States Mint bullion products increased by 3,000 ounces in American Gold Eagles and by 200,000 ounces in American Silver Eagles.

Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
Monday Last Week September October 2018 Sales
$100 American Eagle 1 Oz Platinum Coin* 0 0 0 0 30,000
$50 American Eagle 1 Oz Gold Coin 2,000 6,000 14,500 12,500 163,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 2,000 1,000 25,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 4,000 0 58,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 40,000 10,000 210,000
$50 American Buffalo 1 Oz Gold Coin 1,000 1,000 11,000 3,500 111,500
$1 American Eagle 1 Oz Silver Coin 200,000 260,000 2,897,500 1,130,000 13,265,000
Pictured Rocks 5 Oz Silver Coin* 0 0 0 0 30,000
Apostle Islands 5 Oz Silver Coin* 0 0 0 0 30,000
Voyageurs 5 Oz Silver Coin* 0 0 0 0 30,000
Cumberland Island 5 Oz Silver Coin 0 0 52,500 0 52,500

 

Leave a Reply

avatar
  
smilegrinwinkmrgreenneutraltwistedarrowshockunamusedcooleviloopsrazzrollcryeeklolmadsadexclamationquestionideahmmbegwhewchucklesillyenvyshutmouth
  Subscribe  
Notify of