Palladium Gains As Gold, Silver and Platinum Decline Thursday, July 16

by CoinNews.net on July 16, 2020 · 0 comments

Gold Bullion and Coins

Gold futures fell 0.7% on Thursday, July 16

In futures trading Thursday, palladium gained for a second day in a row while gold, silver and platinum declined after rising on Wednesday.

Gold for August delivery shed $13.50, or 0.7%, to settle at $1,800.30 an ounce on the Comex division of the New York Mercantile Exchange.

"More routine profit taking from the shorter-term futures traders was featured today after recent good gains,” Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a note.

Gold futures ranged from a low of $1,795.40 to a high of $1,816.20. They edged up 0.02% on Wednesday, they slipped 0.04% on Tuesday, and they rose 0.7% on Monday. A week ago Wednesday, July 8, they ended at $1,820.60 an ounce for their highest settlement since Sept. 14, 2011.

Silver for September delivery fell 18.8 cents, or 1%, to settle at $19.573 an ounce. Silver futures traded between $19.50 and $19.87. They gained 1.2% on Wednesday, they shed 1.3% on Tuesday, and they rallied 3.9% on Monday — marking their highest finish since Sept. 23, 2016, when the precious metal ended at $19.81 an ounce.

In other precious metals futures prices Thursday:

  • October platinum lost $6.20, or 0.7%, to $837 an ounce, ranging from $825.50 to $848.70.

  • Palladium for September delivery added $15.10, or 0.8%, to $2,025.10 an ounce, trading between $1,985 and $2,057.

London Precious Metals Prices (LBMA)

In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:

  • Gold rose $3.10, or 0.2%, to $1,807.70 an ounce.
  • Silver fell 8.5 cents, or 0.4%, to $19.245 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales were unchanged Thursday. 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)
Thursday Last Week This Week May June July 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 8,500 5,000 5,500 42,500 13,500 341,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 6,000 2,000 0 41,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 12,000 2,000 2,000 56,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 0 0 0 175,000
$50 American Buffalo 1 Oz Gold Coin 0 5,000 0 2,500 7,500 5,000 131,000
$1 American Eagle 1 Oz Silver Coin 0 0 0 490,000 1,378,000 0 12,596,500
$1 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 0 56,500

 

In terms of 5-ounce silver bullion sales for 2020, the U.S. Mint is working on getting them automated and reported. Initial U.S. Mint-provided figures have the first two 2020-dated pieces at 45,000 produced and sold per issue. These amounts are being verified.

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