Gold Ends At 23-Week High

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

999.9 Fine Gold Bullion

Gold futures marked their best price since July 10

Most precious metals futures ended lower Tuesday. Gold was the exception. The yellow metal not only climbed for a second day in a row but it ended at a twenty-three-week high.

Gold for February delivery rose $1.80, or 0.1%, to settle at $1,253.60 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since July 10 when gold ended at $1,255.40 an ounce.

"I think gold is going to catch a bid here, especially when the economy in U.S., in Germany and in China is slowing down," Reuters quoted Walter Pehowich, executive vice president of investment services at Dillon Gage Metals.

Gold futures ranged from a low of $1,249 to a high of $1,254.50. They gained 0.8% on Monday.

Elsewhere, silver for March delivery declined 5.8 cents, or 0.4%, to settle at $14.701 an ounce. Silver futures traded between $14.68 and $14.79. They rose 0.8% on Monday.

In other precious metals prices Tuesday:

  • January platinum fell $1.10, or 0.1%, to $794.80 an ounce, ranging from $786.10 to $795.80.

  • Palladium for March delivery declined $2.80, or 0.2%, to $1,179.20 an ounce, trading between $1,175.40 and $1,189.20. Last Wednesday, the precious metal ended at a record of $1,194.50 an ounce.

London Precious Metals Prices

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

  • Gold added $4.65, or 0.4%, to 1,246.30 an ounce.
  • Silver rose 5.5 cents, or 0.4%, to $14.655 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)
Tuesday 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 2,000 0 16,000 2,000 190,000
$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 0 1,500 0 5,500 1,500 121,500
$1 American Eagle 1 Oz Silver Coin 0 100,000 75,000 1,645,000 325,000 15,535,000
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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