Most precious metals futures gained on Thursday and they all rallied for the month. Gold and silver both ended October at more than one-month highs.
Gold for December delivery tacked on $18.10, or 1.2%, to settle at $1,514.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Sept. 26.
"Gold is rallying on expectations the U.S.-China trade war will not be ending anytime soon," said Edward Moya, senior market analyst at Oanda, in a note reported by MarketWatch.
Gold futures gained 2.8% in October after dropping 3.7% in September. The yellow metal has notched a year-to-date increase of 18.2%.
Elsewhere, silver for December delivery advanced 20 cents, or 1.1%, to end at $18.067 an ounce. The close was the strongest since Sept. 25.
Silver futures surged 6.3% in October after plunging 7.3% in September. They are 16.3% higher on the year.
In PGM futures on Thursday and for the month:
January platinum rose $3.10, or 0.3%, to finish at $933.70 an ounce, padding its gain in October to 5%.
- Palladium for December delivery fell $36.50, or 2%, to close at $1,755.60 an ounce, trimming its monthly increase to 6.6%. On Wednesday, palladium logged a record settlement of $1,792.10 an ounce.
As for the year so far, platinum is up 16.6% while palladium is up a whopping 46.6%.
London Precious Metals Prices
London precious metals prices gained on Thursday and for the month. In comparing their latest day-over-day PM prices:
- Gold rose $18.85, or 1.3%, to $1,510.95 an ounce.
- Silver added 10 cents, or 0.6%, to $18.055 an ounce.
- Platinum rose $19, or 2.1%, to $936 an ounce.
In LBMA monthly results, advances were 1.7% for gold, 4.6% for silver, and 4% for platinum.
US Mint 2019 Bullion Sales
United States Mint American Eagle and Buffalo bullion coins posted stronger results in October than in September. In headline comparisons:
American Eagle gold coins combined to 11,500 ounces in October, surging 109.1% from the 5,500 ounces sold in September but down 53.1% from the 24,500 ounces sold in October of last year. 2019 American Gold Eagle sales at 138,000 ounces are 37.8% lower than the 222,000 ounces delivered during the first ten months of 2018.
American Eagle silver coins moved up by 1,110,500 ounces, rising 8.8% from September’s 1,021,000 ounces but dropping 22.3% from October 2018 sales of 1,430,000 ounces. 2019 American Silver Eagle sales at 14,400,500 ounces are 6.2% higher than the 13,565,000 ounces sold through the same period last year.
American Buffalo gold coins rose by 3,000 ounces, registering divided results with sales 20% higher than the 2,500 ounces sold in September and 53.9% lower than sales of 6,500 ounces in October 2018. Year-to-date sales at 55,000 ounces are 52% lower than the 114,500 ounces sold during the first ten months of 2018.
The final allotment of 2019 American Platinum Eagles sold in April with their total for the year ending at 40,000 coins. Last year’s edition topped out at 30,000 coins.
America the Beautiful Five Ounce Silver Bullion Coins climbed by 18,000 units after rising by 40,200 units in September. Four of the five 2019-dated coins have now been issued and they have combined sales of 287,700 units or 1,438,500 ounces. Last year’s first four five-ounce bullion coins registered combined sales through October of 142,500 units or 712,500 ounces.
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 / This Week||Last Week||September||October||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||0||3,500||8,000||98,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||1,000||1,000||25,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||4,000||34,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||10,000||20,000||190,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||2,500||3,000||55,000|
|$1 American Eagle 1 Oz Silver Coin||167,000||0||1,021,000||1,110,500||14,400,500|
|San Antonio Missions 5 Oz Silver Coin||0||0||37,700||17,500||55,200|
|War in the Pacific 5 Oz Silver Coin||0||0||2,500||500||72,500|
|American Memorial Park 5 Oz Silver Coin*||0||0||0||0||80,000|
|Lowell 5 Oz Silver Coin*||N/A||80,000|
|$100 American Eagle 1 Oz Platinum Coin*||N/A||40,000|