Precious metals futures advanced in their start to the shortened holiday trading week on Monday. Gold and silver each finished at almost seven-week highs.
Gold for February delivery settled up $7.80, or 0.5%, to $1,488.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Nov. 6.
"Despite the upbeat tenor of the overall marketplace and a global stock markets rally, the safe-haven metals bulls are showing keen resilience and even some bullishness," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note. "Gold and silver traders are also focused more on the prospects of better worldwide demand for raw commodities in the coming new year."
Gold futures ranged from a low of $1,481.20 to a high of $1,489.90. They edged down 0.02% last week.
Silver for March delivery rose 27.5 cents, or 1.6%, to close at $17.499 an ounce. The settlement was also the highest since Nov. 6. Silver futures traded between $17.23 and $17.52. They advanced 1.3% last week.
In other precious metals futures prices on Monday:
-
January platinum added $24.60, or 2.7%, to $938.40 an ounce, ranging from $912.20 to $941.40.
- Palladium for March delivery surged $40.10, or 2.2%, to $1,849 an ounce, trading between $1,785.30 and $1,856. Last Monday, they settled at a record of $1,963.60 an ounce.
Last week, the pair logged losses — 1.6% for platinum and 4.4% for palladium.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold added $3.10, or 0.2%, to $1,482.10 an ounce.
- Silver gained 34 cents, or 2%, to $17.375 an ounce.
In LBMA results last week, prices for gold rose 0.9% and those for silver rose 0.6%.
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 | 1,500 | 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 | 0 | 1,500 | 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 | |||
