Precious Metals Decline Monday, Dec. 10

by CoinNews.net on December 10, 2018 · 0 comments

Gold bullion bars

Gold futures shed 0.3% Monday, Dec. 10

Precious metals futures declined in their start Monday to the new trading week. Losses ranged from 0.3% for gold to 1% for both platinum and palladium.

Gold for February delivery shed $3.20, or 0.3%, to settle at $1,249.40 an ounce on the Comex division of the New York Mercantile Exchange.

Gold "losses were limited on expectations that there might be a pause in the [Federal Reserve interest] rate hike cycles in 2019 –sooner than expected," said analysts at ICICI Bank, in a daily market report according to MarketWatch.

Gold futures ranged from a low of $1,247.30 to a high of $1,256.60. They rallied 2.2% last week, closing Friday at their stongest level since July 10.

Meanwhile, silver for March delivery declined 9.1 cents, or 0.6%, to settle at $14.605 an ounce. Silver futures traded between $14.56 and $14.74. They surged 3.4% last week, ending at their highest price since Nov. 2.

In other precious metals prices on Monday:

  • January platinum fell $8.30 to $782.10 an ounce, ranging from $778.60 to $795.70.

  • Palladium for March delivery lost $12.10 to $1,158.70 an ounce, trading between $1,157 and $1,180.10.

The pair divided last week with platinum sliding 1.2% and palladium advancing 2.3%.

London Precious Metals Prices

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

  • Gold added $2.05, or 2%, to 1,245.35 an ounce.
  • Silver gained 4.5 cents, or 0.3%, to $14.53 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 platinum declined 2% while others rose — 2.1% for gold, 1.8% for silver, and 0.2% for palladium.

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 / December November 2018 Sales
$100 American Eagle 1 Oz Platinum Coin* 0 0 0 30,000
$50 American Eagle 1 Oz Gold Coin 0 0 16,000 188,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 4,000 32,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 62,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 20,000 230,000
$50 American Buffalo 1 Oz Gold Coin 0 0 5,500 120,000
$1 American Eagle 1 Oz Silver Coin 0 150,000 1,645,000 15,360,000
Pictured Rocks 5 Oz Silver Coin* 0 0 0 30,000
Apostle Islands 5 Oz Silver Coin* 0 0 0 30,000
Voyageurs 5 Oz Silver Coin* 0 0 0 30,000
Cumberland Island 5 Oz Silver Coin 0 0 0 52,500
Block Island 5 Oz Silver Coin 0 0 80,000 80,000

 

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