Gold Ends Slightly Lower; Palladium Soars to New Record

by CoinNews.net on December 16, 2019 · 0 comments

Gold Changed Slightly This Week

Gold futures shed less than 0.1% on Monday, Dec. 16

Aside from gold, precious metals gained in their start to the new trading week Monday. Palladium rallied to another record.

Gold for February delivery dipped 70 cents, or 0.05%, to settle at $1,480.50 an ounce on the Comex division of the New York Mercantile Exchange.

"The safe-haven metals bulls are hanging tough in the face of a geopolitical atmosphere that has brightened recently. A depreciating greenback on the world foreign exchange market is limiting selling interest in the precious metals markets," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,477.40 to a high of $1,484.50. They advanced 1.1% last week.

Silver for March delivery tacked on 10.1 cents, or 0.6%, to settle at $17.113 an ounce. Silver futures traded between $16.95 and $17.14. They jumped last week by 2.5%.

In other precious metals futures prices on Monday:

  • January platinum rose $2.50, or 0.3%, to $931.30 an ounce, ranging from $927.80 to $938.30.

  • Palladium for March delivery soared $72, or 3.8%, to $1,963.60 an ounce, trading between $1,907.10 and $1,969.80.

Last week, platinum moved ahead 3.3% and and palladium gained 2.5%.

London Precious Metals Prices

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

  • Gold rose $11.30, or 0.8%, to $1,477.90 an ounce.
  • Silver added 8.5 cents, or 0.5%, to $17.02 an ounce.

In LBMA results last week, gold gained 0.5% while silver was near unchanged with a half-cent loss.

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 November 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 0 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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