Gold, Silver and Platinum Rise Tuesday, Sept. 8

by CoinNews.net on September 8, 2020 · 1 comment

Gold bullion and gold coins

Gold futures rose 0.5% on Tuesday, September 8

Most precious metals futures climbed in their start to the new trading week on Tuesday following the Labor Day extended weekend.

Gold for December delivery settled up $8.90, or 0.5%, to $1,943.20 an ounce on the Comex division of the New York Mercantile Exchange.

"Buying interest in the precious metals has been limited today by bearish outside markets that see sharply lower crude oil prices and a solid rally in the U.S. dollar index. However, solid selling pressure in the U.S. stock market is providing a lift to the safe-haven metals," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,911.70 to a high of $1,948.30. They fell 2.1% last week.

Silver for December delivery tacked on 27.9 cents, or 1%, to finish at $26.991 an ounce. Silver futures traded between $25.98 and $27.39. They dropped 3.9% last week.

In other precious metals prices Tuesday:

  • October platinum rose $12.10, or 1.4%, to $910.30 an ounce, ranging from $890.90 to $921.

  • Palladium for December delivery fell $37.40, or 1.6%, to $2,305.80 an ounce, trading between $2,255.30 and $2,348.50.

Last week platinum declined 4.5% and palladium rallied 5%.

London Precious Metals Prices (LBMA)

In comparing London gold and silver prices from Monday PM to Tuesday PM:

  • Gold declined $17.50, or 0.9%, to $1,910.95 an ounce.
  • Silver fell 15.5 cents, or 0.6%, to $26.675 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales were unchanged according to available figures from the bureau’s website. 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

 

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Christopher Williams

Every so often I buy a 5 oz silver bar or a few silver eagles. I haven’t purchased any in awhile. So the other day I was looking to buy another 5 oz silver bar and observed the surge in the price of silver.