Gold and Silver Retreat, Logging First Losses in Five Sessions

by CoinNews.net on November 20, 2018 · 0 comments

Bullion gold bars and US $100s.

Gold futures ended 0.3% lower Tuesday, Nov. 20, as the U.S. dollar climbed

Gold and silver broke away Tuesday from their four-session winning streaks, falling from around one-and-a-half week highs.

Gold for December delivery declined $4.10, or 0.3%, to settle at $1,221.20 an ounce on the Comex division of the New York Mercantile Exchange.

"It seems like most people are leaving the stock markets, flocking into bonds and ignoring the gold market at this moment. Gold seems to be under pressure because of the strong dollar," Reuters quoted Walter Pehowich, executive vice president of investment services at Dillon Gage Metals.

Gold futures ranged from a low of $1,220.30 to a high of $1,229.50. They rose 0.2% on Monday, ending at their highest price since Nov. 7. Last Tuesday, they finished at $1,201.40 an ounce for their weakest settlement since Oct. 10.

Silver for December delivery shed 13.4 cents, or 0.9%, to settle at $14.269 an ounce. Silver futures traded between $14.20 and $14.48. They edged up 0.2% on Monday to score their strongest settlement since Nov. 8.

In other precious metals futures prices Tuesday:

  • January platinum lost $10.60, or 1.2%, to $847 an ounce, ranging from $840.80 to $858.10.

  • Palladium for December delivery fell $15.20, or 1.3%, to $1,126.10 an ounce, trading between $1,117.40 and $1,152.70. On Friday, the precious metal ended at a record of $1,154.60 an ounce.

London Precious Metals Prices

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

  • Gold rose $1.40, or 0.1%, to 1,223 an ounce.
  • Silver added 8 cents, or 0.6%, to $14.44 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)
Tuesday / This Week 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

 

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