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|