Most precious metals futures advanced Monday in their start to the new trading week. Gold and silver moved ahead for a fourth straight session with each closing around one-and-a-half week highs. Palladium, meanwhile, declined for the first time in five sessions to slip under its all-time record.
Gold for December delivery tacked on $2.30, or 0.2%, to close at $1,225.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Nov. 7.
"The fact that investors have revisited gold as a major safe haven will keep it to top of mind as the year ends," MarketWatch quoted Alfonso Esparza, senior market analyst at Oanda. "The U.S. dollar has appreciated against all major pairs year to date but as the [Federal Reserve] nears a neutral interest rate it runs the risk of running out of steam."
Gold futures ranged from a low of $1,218.50 to a high of $1,226.50. They advanced 1.2% last week. Last Tuesday, they finished at $1,201.40 an ounce for their weakest settlement since Oct. 10.
Silver for December delivery rose 2.1 cents, or 0.2%, to settle at $14.403 an ounce. The close was the highest since Nov. 8. Silver futures traded between $14.32 and $14.42. They surged 1.7% last week.
In other precious metals futures prices on Monday:
January platinum added $11, or 1.3%, to $857.60 an ounce, ranging from $845 to $858.60.
- Palladium for December delivery declined $13.30, or 1.2%, to $1,141.30 an ounce, trading between $1,140.50 and $1,167.10. On Friday, the precious metal ended at a record of $1,154.60 an ounce.
Both metals gained last week with platinum rising 1.1% and palladium soaring 5.2%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold dipped 80 cents, or less than 0.1%, to 1,221.60 an ounce.
- Silver rose 7.5 cents, or 0.5%, to $14.36 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight
In LBMA results last week, gold increased 0.9% and palladium advanced 5% while silver slipped 0.4% and platinum lost 1.9%.
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)|
|Monday||Last Week||October||November||2018 Sales|
|$100 American Eagle 1 Oz Platinum Coin*||0||0||0||0||30,000|
|$50 American Eagle 1 Oz Gold Coin||0||1,000||21,000||5,000||177,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||4,000||2,000||30,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||2,000||2,000||62,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||10,000||15,000||225,000|
|$50 American Buffalo 1 Oz Gold Coin||0||1,000||6,500||3,000||117,500|
|$1 American Eagle 1 Oz Silver Coin||0||865,000||1,430,000||1,270,000||14,835,000|
|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||0||0||52,500|