Gold Rises 0.2%, Logging Third Gain in Four Sessions

by CoinNews.net on October 18, 2018 · 0 comments

Several Gold Bullion Bars

Gold futures rose 0.2% Thursday, Oct. 18

Most precious metals futures finished lower Thursday. Gold was the exception, registering its third gain in four sessions.

Gold for December delivery rose $2.70, or 0.2%, to settle at $1,230.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Given equity weakness, gold looks increasingly attractive as a defensive hedge," MarketWatch quoted Stephen Innes, Asia-Pacific head of trading at Oanda, in an email update. "But with the [dollar] refusing to stay down for the count, markets could be torn between competing narratives over the near term, weaker equities vs. the stronger USD."

Gold futures ranged from a low of $1,221.70 to a high of $1,233.60. They shed 0.3% on Wednesday, edged up less than 0.1% on Tuesday — closing at their highest price since July 31, and they moved up 0.7% on Monday.

Ending down for a third day in a row, silver for December declined 5.9 cents, or 0.4%, to $14.604 an ounce. Silver futures traded between $14.47 and $14.68. They lost 0.3% on Wednesday, declined 0.2% on Tuesday, and rose 0.6% on Monday for their best settlement since Aug. 28.

In other precious metals futures prices Thursday:

  • January platinum fell $8.90, or 1.1%, to $831.70 an ounce, ranging from $828.60 to $837.30.

  • Palladium for December delivery lost $2.90, or 0.3% to $1,064.70 an ounce, trading between $1,057.50 and $1,070.60.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:

  • Gold declined $6.05, or 0.5%, to 1,223 an ounce.
  • Silver fell 13.5 cents, or 0.9%, to $14.515 an ounce.

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

US Mint Bullion Sales in 2018

United States Mint bullion sales were unchanged. 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)
Thursday Last Week This Week September October 2018 Sales
$100 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 30,000
$50 American Eagle 1 Oz Gold Coin 0 6,000 2,500 14,500 13,000 164,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 2,000 2,000 26,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 4,000 0 58,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 40,000 10,000 210,000
$50 American Buffalo 1 Oz Gold Coin 0 1,000 2,500 11,000 5,000 113,000
$1 American Eagle 1 Oz Silver Coin 0 260,000 200,000 2,897,500 1,130,000 13,265,000
Pictured Rocks 5 Oz Silver Coin* 0 0 0 0 0 30,000
Apostle Islands 5 Oz Silver Coin* 0 0 0 0 0 30,000
Voyageurs 5 Oz Silver Coin* 0 0 0 0 0 30,000
Cumberland Island 5 Oz Silver Coin 0 0 0 52,500 0 52,500

 

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