Gold and Silver Decline Slightly Wednesday, Nov. 20

by CoinNews.net on November 20, 2019 · 0 comments

closeup of gold bullion

Gold futures dipped 0.01% on Wednesday, Nov. 20

Precious metals futures divided Wednesday with platinum and palladium rising and gold and silver falling — albeit very modestly.

Gold for December delivery edged 10 cents, or 0.01%, lower to settle at $1,474.20 an ounce on the Comex division of the New York Mercantile Exchange.

"Technically, December gold futures bears still have the slight overall near-term technical advantage as prices have been trending lower for 2.5 months," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note. " Gold bulls’ next upside near-term price breakout objective is to produce a close above solid technical resistance at $1,500.00. Bears’ next near-term downside price breakout objective is pushing prices below solid technical support at $1,425.00."

Gold futures ranged from a low of $1,466.10 to a high of $1,479.20. They climbed 0.2% on Tuesday and on Monday.

Silver for December delivery shed less than a half cent, or 0.02%, to settle at $17.115 an ounce. Silver futures traded between $17 and $17.19. They gained 0.7% on Tuesday and they rose 0.3% on Monday.

In PGM futures on Wednesday:

  • January platinum tacked on $7.70, or 0.8%, to $920 an ounce, ranging from $908.70 to $921.

  • Palladium for December delivery rose $4.40, or 0.3%, to $1,741.80 an ounce, trading between $1,721.40 and $1,747.80.

London Precious Metals Prices

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

  • Gold added $3.25, or 0.2, to $1,471.70 an ounce.
  • Silver dipped a penny, or 0.06%, to $17.115 an ounce.

In LBMA results last week, gold climbed 0.2% and silver rose 0.4%.

US Mint 2019 Bullion Sales

U.S. 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)
Wednesday Last Week This Week October November 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 5,000 3,000 8,000 8,000 106,000
$25 American Eagle 1/2 Oz Gold Coin 0 3,000 0 1,000 5,000 30,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 4,000 2,000 36,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 20,000 0 190,000
$50 American Buffalo 1 Oz Gold Coin 0 2,500 2,500 3,000 5,000 60,000
$1 American Eagle 1 Oz Silver Coin 0 65,000 233,000 1,110,500 463,000 14,863,500
Frank Church River of No Return Wilderness 5 Oz Silver Coin 0 N/A 13,500 N/A 13,500 13,500
San Antonio Missions 5 Oz Silver Coin 0 0 0 17,500 0 55,200
War in the Pacific 5 Oz Silver Coin 0 0 0 500 0 72,500
American Memorial Park 5 Oz Silver Coin* 0 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

 

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