Gold Ends At More Than Eight-Week High

by CoinNews.net on December 26, 2019 · 0 comments

closeup of gold bullion

Gold futures ended at their highest price since Oct. 31

Precious metals prices climbed together for a third straight session Thursday following the trading break on Wednesday for Christmas. Gold and silver gained the least but notched the longer settlement highs — more than eight weeks for gold and more than seven weeks for silver.

Gold for February delivery advanced $9.60, or 0.6%, to settle at $1,514.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Oct. 31.

"Gold and silver are rising on apprehensions over US-China trade deal and Trump and his impeachment proceedings. Physical gold demand is still lagging gold investment demand," wrote Chintan Karnani, chief market analyst at Insignia Consultants, in a Thursday research note reported by MarketWatch.

Gold futures ranged from a low of $1,502.10 to a high of $1,517.40. They rose 1.1% on Tuesday and they moved ahead 0.5% on Monday.

Silver for March delivery added 13.7 cents, or 0.8%, to end at $17.99 an ounce. The settlement was the strongest since Nov. 4. Silver futures traded between $17.81 and $18.14. They jumped 2% on Tuesday and they rose 1.6% on Monday.

In other precious metals futures prices Thursday:

  • January platinum tacked on $10.70, or 1.1%, to $953.50 an ounce, ranging from $941.20 to $963.50.

  • Palladium for March delivery advanced $16.80, or 0.9%, to $1,868.60 an ounce, trading between $1,848 and $1,871.20.

London Precious Metals Prices

London markets closed Thursday for holiday. The latest LBMA prices on Tuesday were:

  • Gold at $1,482.10 an ounce.
  • Silver at $17.585 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)
Thursday / This Week 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

 

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