Gold Declines For Second Day to Another 2-Month Low; Silver Rises

by CoinNews.net on September 22, 2020 · 0 comments

999.9 Fine Gold Bullion

Gold futures dipped 0.2% on Tuesday, Sept. 22

Aside from silver, precious metals fell for a second day in a row Tuesday. Silver edged 0.6% higher after plunging 10.1% on Monday.

Gold for December delivery lost $3, or 0.2%, to settle at $1,907.60 an ounce on the Comex division of the New York Mercantile Exchange. The close remained gold’s weakest since July 24.

"When we see gold and equities down both at the same time, investors need cash. Precious metals are always a good source of raising cash. It was a factor yesterday but today we think it’s mostly dollar and technical," Reuters quoted Chris Gaffney, president of world markets at TIAA Bank. "The dollar is maintaining its strength and fundamentally that is weighing on gold prices."

Gold futures ranged from a low of $1,898.90 to a high of $1,925.50. They fell 2.6% on Monday.

Silver for December delivery rose 13.6 cents to settle at $24.523 an ounce. Silver futures traded between $23.91 and $25.30. On Monday, silver ended at its lowest price since July 31.

In other precious metals futures prices on Tuesday:

  • October platinum declined $18.70, or 2.1%, to $857.40 an ounce, ranging from $856.70 to $893.

  • Palladium for December delivery fell $52.10, or 2.3%, to $2,229.60 an ounce, trading between $2,227.30 and $2,316.80.

London Precious Metals Prices (LBMA)

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

  • Gold declined $3.35, or 0.2%, to $1,906 an ounce.
  • Silver dropped $2.06, or 7.8%, to $24.30 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales increased by a combined 490,000 ounces in silver coins, which includes 225,000 ounces in Tallgrass Prairie National Preserve 5 Oz. Silver Bullion Coins.

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 Last Week This Week July August September 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 7,500 9,500 107,500 104,000 18,500 557,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 1,000 4,000 10,000 3,000 58,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 10,000 20,000 4,000 88,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 35,000 70,000 10,000 290,000
$50 American Buffalo 1 Oz Gold Coin 0 1,000 3,000 30,000 28,000 4,500 188,500
$1 American Eagle 1 Oz Silver Coin 265,000 331,000 449,000 1,084,500 4,477,000 1,820,000 19,998,000
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 45,000 0 0 45,000
Tallgrass Praire 5 oz Silver Coin* 45,000 N/A 45,000 N/A N/A 45,000 45,000
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 0 56,500

 

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments