Precious Metals Rise in September Start; Gold Marks 2-Week High

by CoinNews.net on September 1, 2020 · 0 comments

Several 999.9 gold bullion bars

Gold ended at its highest price since Aug. 18

Precious metals kicked off the new trading month on Tuesday with gains ranging from less than 0.1% for gold to 1.6% for platinum.

Gold for December delivery inched up 30 cents, or 0.02%, to settle at $1,978.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the best since Aug. 18.

"The precious metals are being lifted in part by a wilting U.S. dollar index that today hit another two-year low," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,971.30 to a high of $2,001.20. They climbed 0.2% on Monday, logging an August decline 0.4%.

Silver for September delivery rose 5.1 cents, or nearly 0.2%, to close at $28.645 an ounce. Silver futures traded between $28.34 and $29.235. They surged 2.9% on Monday, registering an August increase of 18.1%.

In other precious metals prices Tuesday:

  • October platinum finished up $14.80 to $952.70 an ounce, ranging from $935.10 to $970.50.

  • Palladium for December delivery gained $31.80, or 1.4%, to $2,311.10 an ounce, trading between $2,264.20 and $2,344.70.

Last month platinum advanced 2.1% and palladium rallied 6.3%.

London Precious Metals Prices (LBMA)

London market closed Monday for Summer Bank Holiday. In comparing London gold and silver prices from Friday PM to Tuesday PM:

  • Gold added $15, or 0.8%, to $1,972.35 an ounce.
  • Silver tacked on $1.535, or 5.6%, to $28.885 an ounce.

In LBMA results last month, prices fell 0.4% for gold while they gained 13.6% for silver, 2.8% for platinum, and 5.4% for palladium.

US Mint Bullion Sales in 2020

United States Mint bullion sales were unchanged Tuesday. 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)
Tuesday / This Week / Sept. Last Week June July August 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 0 42,500 107,500 86,000 521,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 2,000 4,000 6,000 51,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 10,000 12,000 76,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 35,000 30,000 240,000
$50 American Buffalo 1 Oz Gold Coin 0 0 7,500 30,000 22,500 178,500
$1 American Eagle 1 Oz Silver Coin 0 0 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

 

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments