Precious metals futures registered increases Monday that ranged from less than 0.1% for palladium to nearly 5% for silver. Palladium settled at a fresh record. Silver and gold closed at more than two-week highs.
Gold for December delivery tacked on $16.40, or 1.1%, to end at $1,531.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Sept. 4.
"Risk aversion in the world marketplace has crept back to start the trading week, as there is still uncertainty on the geopolitical front. The technical postures for both gold and silver markets also are solidly bullish," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
Gold futures ranged from a low of $1,517.90 to a high of $1,534.40. They moved up last week by 1%.
Silver for December delivery rallied 86.2 cents, or 4.8%, to finish at $18.711 an ounce. Silver futures traded between $17.99 and $18.72. The close was the highest since Sept. 5. They gained 1.6% last week.
In other precious metals futures prices Monday:
October platinum added $11.30, or 1.2% to $953.90 an ounce, ranging from $944 to $963.70.
- Palladium for December delivery inched up 60 cents, or 0.04%, to a record settlement of $1,625.60 an ounce. Palladium traded between $1,616.10 and $1,643.30.
Last week, platinum declined 1% and palladium climbed 1.5%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold gained $20.20, or 1.3%, to $1,522.10 an ounce.
- Silver advanced 50 cents, or 2.8%, to $18.38 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 surged 2.4% for palladium while they declined less than 0.1% for gold, 1.5% for silver, and 1.7% for platinum.
US Mint 2019 Bullion Sales
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. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Monday||Last Week||August||September||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||500||5,500||3,000||89,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||1,000||1,000||24,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||2,000||30,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||5,000||165,000|
|$50 American Buffalo 1 Oz Gold Coin||0||500||1,500||1,000||50,500|
|$1 American Eagle 1 Oz Silver Coin||0||0||1,007,000||686,000||12,955,000|
|War in the Pacific 5 Oz Silver Coin||0||0||12,500||2,500||72,000|
|American Memorial Park 5 Oz Silver Coin*||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|