Gold Rises 1.1%; Silver Jumps 6.7%

by CoinNews.net on August 13, 2020 · 0 comments

Gold bullion

Gold futures finished 1.1% higher on Thursday, Aug. 13

Precious metals futures registered sharp advances Thursday. Their gains ranged from 1.1% for gold to 6.7% for silver.

Gold for December delivery rose $21.40 to settle at $1,970.40 an ounce on the Comex division of the New York Mercantile Exchange.

"Traders have once again stepped in to buy the dip in this week’s price action and keep the near-term uptrends alive. That’s what happens routinely in extended bull runs in markets," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note.

Gold futures ranged from a low of $1,923 to a high of $1,974.80. They edged up 0.1% on Wednesday, they fell 4.6% on Tuesday, and they rose 0.6% on Monday. Last Thursday, they ended at a record settlement of $2,069.40 an ounce.

Silver for September delivery surged $1.74 to close at $27.718 an ounce. Silver futures traded between $25.35 and $27.86. They shed 0.3% on Wednesday, they dropped 11% on Tuesday, and they surged 6.3% on Monday — logging their best finish since Feb. 19, 2013.

In other precious metals prices Thursday:

  • October platinum added $23.80, or 2.5%, to $983 an ounce, ranging from $942.10 to $985.40.

  • Palladium for September delivery climbed $48.60, or 2.2%, to $2,216.80 an ounce, trading between $2,150.70 and $2,235.80.

London Precious Metals Prices (LBMA)

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

  • Gold rose $12.35, or 0.6%, to $1,944.25 an ounce.
  • Silver added 44 cents, or 1.7%, to $26.25 an ounce.

US Mint Bullion Sales in 2020

U.S. 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. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Thursday Last Week This Week June July August 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 28,500 38,000 42,500 107,500 66,500 501,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 2,000 4,000 0 45,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 10,000 0 64,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 0 35,000 0 210,000
$50 American Buffalo 1 Oz Gold Coin 0 6,500 12,000 7,500 30,000 18,500 174,500
$1 American Eagle 1 Oz Silver Coin 0 918,000 675,000 1,398,000 1,084,500 1,593,000 15,294,000
America Samoa 5 oz Silver Coin* 0 0 0 0 0 0 45,000
Weir Farm 5 oz Silver Coin* 0 0 0 0 0 0 45,000
Salt River Bay 5 oz Silver Coin* 0 0 0 0 0 0 45,000
Marsh Billings 5 oz Silver Coin* 0 0 0 0 45,000 0 45,000
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 0 56,500

 

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