Gold And Silver Slide From 1-Month Highs; Palladium Hits Another Record

by CoinNews.net on December 4, 2019 · 0 comments

Gold bars

Gold futures eased 0.3% on Wednesday, Dec. 4

Reversing from their prior-day directions, gold, silver and platinum declined Wednesday while palladium gained. Gold and silver each fell from almost one-month highs. Palladium earned another record.

Gold for February delivery lost $4.20, or 0.3%, to end at $1,480.20 an ounce on the Comex division of the New York Mercantile Exchange.

"It’s been an interesting see-saw … The market is looking for reliable information concerning tariff talks, more than anything else," Reuters quoted George Gero, managing director at RBC Wealth Management. "Gold traders have been buying dips and doing well selling at the bigger rallies. This has kept gold range-bound for some time between $1,480 and $1,500."

Gold futures ranged from a low of $1,476.70 to a high of $1,489.90. They gained 1% on Tuesday — registering their highest settlement since Nov. 6, and they dipped 0.2% on Monday.

Silver for March delivery dropped 33.2 cents, or 1.9%, to finish at $16.916 an ounce. Silver futures traded between $16.86 and $17.42. They advanced 1.7% on Tuesday — marking their best close since Nov. 6, and they declined 0.8% on Monday.

In PGM futures on Wednesday:

  • January platinum fell $9.80, or 1.1%, to $901.80 an ounce, ranging from $899.60 to $918.40.

  • Palladium for March delivery tacked on $21, or 1.2%, to a record settlement of $1,845.40 an ounce. Palladium traded between $1,823.10 and $1,846.50.

London Precious Metals Prices

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

  • Gold declined $2.20, or 0.2%, to $1,475.10 an ounce.
  • Silver rose 12 cents, or 0.7%, to $17.13 an ounce.

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)
Wednesday Last Week November This Week / December 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 0 8,000 500 106,500
$25 American Eagle 1/2 Oz Gold Coin* 0 0 5,000 0 30,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 0 38,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 0 195,000
$50 American Buffalo 1 Oz Gold Coin 0 0 5,000 0 60,000
$1 American Eagle 1 Oz Silver Coin 0 0 463,000 0 14,863,500
Frank Church River of No Return Wilderness 5 Oz Silver Coin 0 6,500 20,000 5,000 25,000
San Antonio Missions 5 Oz Silver Coin 0 0 0 0 55,200
War in the Pacific 5 Oz Silver Coin 0 0 0 0 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

 

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