Precious Metals Rise Wed., Aug. 26

by CoinNews.net on August 26, 2020 · 0 comments

Two Gold Bullion Bars

Gold settled 1.5% higher on Wednesday, Aug. 26

Precious metals posted gains Wednesday that ranged from 0.6% for platinum to 4.5% for silver. Silver logged its first increase in six sessions. Gold’s advanced was its first in three sessions.

Gold for December delivery tacked on $29.40, or 1.5%, to settle at $1,952.50 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold’s natural trend right now is upward, due largely to the growing global appreciation of how monetary easing and stimulus spending will depreciate the value of currencies against the yellow metal," MarketWatch quoted Brien Lundin, editor of Gold Newsletter. "I think we’ll continue to see gold consolidate its gains via time rather than a significant price correction, trading in a range for a couple of months before rallying once again."

Gold futures ranged from a low of $1,908.40 to a high of $1,963.40. They declined 0.8% on Tuesday and they shed 0.4% on Monday. Earlier this month, on Aug. 6, gold marked a record settlement of $2,069.40 an ounce.

Silver for September delivery soared $1.18 to close at $27.449 an ounce. Silver futures traded between $26.15 and $27.67. They fell 1.3% on Tuesday and they slipped 0.5% on Monday.

In PGM futures on Wednesday:

  • October platinum rose $5.80 to $939.80 an ounce, ranging from $915.50 to $946.10.

  • Palladium for September delivery gained $18.70, or 0.9%, to $2,190.60 an ounce, trading between $2,143.60 and $2,202.60.

London Precious Metals Prices (LBMA)

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

  • Gold added $21.80, or 1.1%, to $1,932.95 an ounce.
  • Silver fell 10 cents, or 0.4%, to $26.395 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales were unchanged Wednesday. 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)
Wednesday / This Week Last Week June July August 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 16,500 42,500 107,500 86,000 521,000
$25 American Eagle 1/2 Oz Gold Coin 0 6,000 2,000 4,000 6,000 51,000
$10 American Eagle 1/4 Oz Gold Coin 0 12,000 2,000 10,000 12,000 76,000
$5 American Eagle 1/10 Oz Gold Coin 0 30,000 0 35,000 30,000 240,000
$50 American Buffalo 1 Oz Gold Coin 0 4,000 7,500 30,000 22,500 178,500
$1 American Eagle 1 Oz Silver Coin 0 1,000,000 1,398,000 1,084,500 2,593,000 16,294,000
America Samoa 5 oz Silver Coin* 0 0 0 0 0 45,000
Weir Farm 5 oz Silver Coin* 0 0 0 0 0 45,000
Salt River Bay 5 oz Silver Coin* 0 0 0 0 0 45,000
Marsh Billings 5 oz Silver Coin* 0 0 0 45,000 0 45,000
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 56,500

 

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