Gold Inches Higher; Silver Snaps Six Session Winning Streak

by CoinNews.net on December 17, 2019 · 0 comments

Bullion, 3 Gold Bars

Gold lost a dime on Tuesday, Dec. 17

Gold edged higher Tuesday while silver, platinum and palladium declined. Silver’s loss was its first in seven sessions. Palladium retreated from a record settlement.

Gold for February delivery inched up a dime, or 0.01%, to settle at $1,480.60 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is holding its own in the current market environment characterized by high risk appetite… One supporting factor is probably the U.S. dollar, which depreciated somewhat yesterday," said Daniel Briesemann, commodity analyst at Commerzbank, in a note reported by MarketWatch.

Gold futures ranged from a low of $1,478.40 to a high of $1,484.90. They dipped 0.05% on Monday.

Silver for March delivery declined 4.1 cents, or 0.2%, to settle at $17.072 an ounce. Silver futures traded between $17.01 and $17.17. They rose 0.6% on Monday.

In other precious metals futures prices on Tuesday:

  • January platinum fell $1.50, or 0.2%, to $929.80 an ounce, ranging from $921.20 to $936.90.

  • Palladium for March delivery dropped $45, or 2.3%, to $1,918.60 an ounce, trading between $1,905.30 and $1,974.60. On Monday, they closed at an all-time high of $1,963.60 an ounce.

London Precious Metals Prices

In comparing earlier fixed LBMA gold and silver prices from Monday PM to Tuesday PM:

  • Gold declined $2.10, or 0.1%, to $1,475.80 an ounce.
  • Silver added 4 cents, or 0.2%, to $17.06 an ounce.

US Mint 2019 Bullion Sales

United States Mint bullion sales logged their first increases of the week with advances of 1,500 in American Gold Eagle 1 ounce coins and 1,500 in American Gold Buffalo 1 ounce coins.

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)
Tuesday / This Week Last Week November December 2019 Sales
$50 American Eagle 1 Oz Gold Coin 1,500 0 8,000 2,000 108,000
$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 1,500 0 5,000 1,500 61,500
$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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