Gold, Silver and Platinum Decline Thursday, Sept. 3

by CoinNews.net on September 3, 2020 · 0 comments

Pile of Gold Bullion

Gold prices retreated 0.4% on Thursday, September 3

In futures trading Thursday, gold, silver and platinum declined while palladium gained. Gold’s loss was its second in a row following three straight session increases.

Gold for December delivery shed $6.90, or 0.4%, to settle at $1,937.80 an ounce on the Comex division of the New York Mercantile Exchange.

"Prices are still in a five-month-old uptrend on the daily bar chart. Bulls’ next upside price objective is to produce a close in October futures above solid resistance at this week’s high of $1,992.50. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $1,900.00," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,927.20 to a high of $1,956.60. They fell 1.7% on Wednesday, they inched up 0.02% on Tuesday — registering their best settlement since Aug. 19, and they climbed 0.2% on Monday.

Silver for September delivery fell 52 cents, or 1.9%, to close at $26.875 an ounce. Silver futures traded between $26.63 and $27.89. They sank 4.4% on Wednesday, they rose nearly 0.2% on Tuesday, and they surged 2.9% on Monday.

In other precious metals futures prices Thursday:

  • October platinum lost $14.50, or 1.6%, to $889.60 an ounce, ranging from $882.60 to $920.

  • Palladium for December delivery gained $54.10, or 2.4%, to $2,321.60 an ounce, trading between $2,262.50 and $2,415.

London Precious Metals Prices (LBMA)

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

  • Gold declined $6.60, or 0.3%, to $1,940.45 an ounce.
  • Silver dropped 80.5 cents, or 2.9%, to $26.90 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. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Thursday / 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

 

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