Precious Metals Drop Monday, Nov. 11

Precious metals futures continued to register losses Monday following their heavy losses on Friday.

Gold for December delivery lost $5.80, or 0.4%, to close at $1,457.10 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Aug. 1.

"U.S. stock indexes are mixed at midday but not far below their recent record highs. The bull market run in the U.S. stock market is a bearish factor that is keeping money from flowing into the safe-haven metals," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,448.90 to a high of $1,467.40. They declined 3.2% last week.

Silver for December delivery shed 2.1 cents, or 0.1%, to finish at $16.802 an ounce. The settlement was the lowest since Aug. 6. Silver futures traded between $16.63 and $16.91. They sank 6.8% last week.

In other precious metals futures prices Monday:

• January platinum fell $12.50, or 1.4%, to $880.60 an ounce, ranging from $875.80 to $894.90.

• Palladium for December delivery lost $52.60, or 3.1%, to $1,656 an ounce, trading between $1,644.30 and $1,724.30.

Last week, platinum dropped 6.4% and palladium declined 4.2%.

London Precious Metals Prices

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

• Gold declined $5.45, or 0.4%, to $1,458.70 an ounce.
• Silver rose 7 cents, 0.4%, to $16.88 an ounce.

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

In LBMA results last week, gold declined 3%, silver fell 7.2%, platinum dropped 5% and palladium shed 1.8%.

US Mint 2019 Bullion Sales

United States Mint bullion sales were unchanged Monday. 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.