Gold Logs Best Close Since April 2013

by CoinNews.net on January 27, 2020 · 0 comments

Bullion Bar and Gold Bullion Coins

Gold closed 0.4% higher on Monday, Jan. 27

Gold prices finished Monday at their strongest level since early 2013. Elsewhere, silver, platinum and palladium declined.

Gold for February delivery added $5.50, or 0.4%, to end at $1,577.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since April 9, 2013 when gold closed at $1,586.70 an ounce.

"Safe-haven buying has been triggered by this virus in China and we’re seeing a big sell-off in equity markets … It’s mostly panic, the markets are looking at the prospect of the Chinese economy slowing down," Reuters quoted Edward Meir, analyst at ED&F Man Capital Markets.

Gold futures ranged from a low of $1,575.30 to a high of $1,588.40. They rose 0.7% last week, for their fifth consecutive weekly increase.

Silver for March delivery shed 5.7 cents, or 0.3%, to settle at $18.056 an ounce. Silver futures traded between $18.04 and $18.38. They moved ahead 0.2% last week, ending Friday at their best price since Jan. 8.

In other precious metals prices on Monday:

  • April platinum declined $18.90, or 1.9%, to $991.70 an ounce, ranging from $988.20 to $1,016.40.

  • Palladium for March delivery plunged $142.70, or 6.2%, to $2,173.60 an ounce, trading between $2,164.10 and $2,326.20. On Wednesday, palladium scored a record settlement of $2,335.60 an ounce.

Last week, platinum declined 1.4% while palladium surged 4.1%.

London Precious Metals Prices

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

  • Gold rose $15.80, or 1%, to $1,580.10 an ounce.
  • Silver jumped 46.5 cents, or 2.6%, to $18.295 an ounce.

In LBMA results last week, prices for gold climbed 0.4% while the others fell — 1.3% for silver, 0.3% for platinum, and 0.4% for palladium.

US Mint Bullion Sales in 2020

United States Mint bullion sales remained unchanged according to available figures from the Mint’s website. 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 November December 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 8,000 2,000 19,500
$25 American Eagle 1/2 Oz Gold Coin* 0 5,000 0 13,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 14,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 45,000
$50 American Buffalo 1 Oz Gold Coin 0 5,000 1,500 10,500
$1 American Eagle 1 Oz Silver Coin 0 463,000 0 2,298,000

 

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