Palladium Marks Another Record; Gold Dips

by CoinNews.net on September 19, 2019 · 0 comments

Gold bullion, Three Bars

Gold prices shed 0.6% on Thursday Sept. 19. Palladium, meanwhile, ended at a new record.

Gold and silver futures declined Thursday but they regained some of their after-hours losses from Wednesday that came about with the release of the Fed’s monetary policy statement. Elsewhere, palladium posted another record settlement, one week after logging its previous record.

Gold for December delivery declined $9.60, or 0.6%, to close at $1,506.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since last Friday, Sept. 13.

"Risk aversion in the world marketplace has subsided late this week, meaning less safe-haven demand for gold and silver," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The U.S. Federal Reserve is also being deemed as less dovish on monetary policy following Wednesday’s FOMC meeting."

Gold futures ranged from a low of $1,496.30 to a high of $1,512.10. They rose 0.2% on Wednesday for their best close since Sept. 5, they edged up 0.1% on Tuesday, and they advanced 0.8% on Monday.

Silver for December delivery fell 3.5 cents, or 0.2%, to settle at $17.884 an ounce. Silver futures traded between $17.65 and $18.02. They declined 1.2% on Wednesday, gained 0.6% on Tuesday, and surged 2.3% on Monday.

In other precious metals futures Thursday:

  • October platinum added $7.80, or 0.8%, to $942.40 an ounce, ranging from $923.70 to $943.90.

  • Palladium for December delivery surged $30.40, or 1.9%, to a record settlement of $1,612.60 an ounce. The metal traded between $1,575.40 and $1,617.30.

London Precious Metals Prices

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

  • Gold dipped $2.80, or 0.2%, to $1,500.70 an ounce.
  • Silver declined 9.5 cents, or 0.5%, to $17.755 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint 2019 Bullion Sales

United States Mint bullion sales rose by 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. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Thursday Last Week This Week August September 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 1,000 0 5,500 2,500 89,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 1,000 1,000 24,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 0 2,000 30,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 0 0 5,000 165,000
$50 American Buffalo 1 Oz Gold Coin 500 0 500 1,500 1,500 50,500
$1 American Eagle 1 Oz Silver Coin 0 675,000 25,000 1,007,000 711,000 12,980,000
War in the Pacific 5 Oz Silver Coin 0 2,500 0 12,500 2,500 72,000
American Memorial Park 5 Oz Silver Coin* 0 0 0 2,000 0 80,000
Lowell 5 Oz Silver Coin* N/A 80,000
$100 American Eagle 1 Oz Platinum Coin* N/A 40,000

 

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