Gold Marks Fourth Session Gain and Closes at 1-Week High

by CoinNews.net on February 10, 2020 · 0 comments

Five gold bullion bars

Gold futures rose 0.4% on Monday, Feb. 10

Most precious metals futures gained Monday. Gold prices finished ahead for a fourth straight session, registering a one-week high.

Gold for April delivery settled up $6.10, or 0.4%, to $1,579.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since last Monday, Feb. 3.

Gold "seems poised to make another run at the $1,600 level and if it can get there, we could easily see a failed triple-top pattern open the door for a move to the $1,640 region," Edward Moya, senior market analyst at Oanda, said in a daily update reported by MarketWatch.

Gold futures ranged from a low of $1,571.50 to a high of $1,580.50. They lost 0.9% last week, for their first weekly decline in seven weeks.

Silver for March rose 9.3 cents, or 0.5%, to settle at $17.785 an ounce. Silver futures traded between $17.66 and $17.83. They dropped 1.8% last week.

In other precious metals prices on Monday:

  • April platinum declined $2.30, or 0.2%, to $966.90 an ounce, ranging from $956.30 to $978.10.

  • Palladium for March delivery advanced $39.60, or 1.8%, to $2,249.80 an ounce, trading between $2,206 and $2,278.70. On Wednesday, palladium logged a record close at $2,335.60 an ounce.

Last week, platinum rose 0.8% and palladium declined 0.7%.

London Precious Metals Prices

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

  • Gold edged 55 cents, or 0.03%, higher to $1,573.20 an ounce.
  • Silver added 1.5 cents, or 0.08%, to $17.785 an ounce.

In LBMA results last week, prices fell 0.7% for gold and 0.6% for silver while they moved ahead 1.3% for platinum and 0.1% for palladium.

US Mint Bullion Sales in 2020

United States Mint bullion sales were 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.

US Mint Bullion Sales (# of coins)
This Week / February November December 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 8,000 2,000 38,000
$25 American Eagle 1/2 Oz Gold Coin 0 5,000 0 23,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 18,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 60,000
$50 American Buffalo 1 Oz Gold Coin 0 5,000 1,500 21,000
$1 American Eagle 1 Oz Silver Coin 0 463,000 0 3,846,000
$1 American Eagle 1 Oz Platinum Coin 0 463,000 0 14,500

 

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