Gold Declines, Silver Logs Fresh 3-1/2-Month High

by CoinNews.net on December 13, 2018 · 0 comments

silver bars stacked side by side

Silver futures ended at their highest price since Aug. 27

Most precious metals retreated Thursday. Silver was the exception, barely, registering a fresh three and a half month high.

Gold for February delivery declined $2.60, or 0.2%, to settle at $1,247.40 an ounce on the Comex division of the New York Mercantile Exchange.

"The fact that we are seeing some risk coming back to the market: the stocks are climbing, the dollar is up and the yen is weaker, does remove some of the demand in gold. But overall, it’s holding relatively well but is missing a spark to move higher," Reuters quoted Saxo Bank analyst Ole Hansen.

Gold futures ranged from a low of $1,244.40 to a high of $1,251.70. They rose 0.2% on Wednesday, declined 0.2% on Tuesday, and lost 0.3% on Monday.

Elsewhere, silver for March delivery edged up less than half a cent to $14.855 an ounce. The settlement was the highest since silver ended at $14.859 an ounce on Aug. 27. Silver futures traded between $14.76 and $14.90. They gained 1.5% on Wednesday, rose 0.2% on Tuesday, and slipped 0.6% on Monday.

In other precious metals futures prices Thursday:

  • January platinum fell $9.60, or 1.2%, to $797.50 an ounce, ranging from $790.60 to $808.60.

  • Palladium for March delivery shed $3.80, or 0.3%, to $1,190.70 an ounce, trading between $1,181.40 and $1,199. On Wednesday, the closed at a record of $1,194.50 an ounce.

London Precious Metals Prices

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

  • Gold declined $2.55, or 0.2%, to 1,242.75 an ounce.
  • Silver rose 2.5 cents, or 0.2%, to $14.68 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 limited to 500 ounces in American Buffalo gold coins. 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 November December 2018 Sales
$100 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 30,000
$50 American Eagle 1 Oz Gold Coin 0 0 1,000 16,000 1,000 189,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 4,000 0 32,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 0 62,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 20,000 0 230,000
$50 American Buffalo 1 Oz Gold Coin 500 0 1,500 5,500 1,500 121,500
$1 American Eagle 1 Oz Silver Coin 0 150,000 75,000 1,645,000 225,000 15,435,000
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 0 0 52,500
Block Island 5 Oz Silver Coin 0 0 0 80,000 0 80,000

 

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