Gold and Silver Log Gains in October Start

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

Gold bullion bar and US coins

Gold gained 1.1% Thursday, Oct. 1

Gold and silver kicked of the new trading month and quarter with gains, while platinum and palladium logged losses.

Gold for December delivery tacked on $20.80, or 1.1%, to settle at $1,916.30 an ounce on the Comex division of the New York Mercantile Exchange. The finish was gold’s highest since Sept. 18.

"The odds are stacked in favor of higher gold price in the coming days, especially because the U.S. elections are just around the corner, and investors want to protect themselves from this major risk event," MarketWatch quoted said Naeem Aslam, chief market analyst at AvaTrade.

Gold futures ranged from a low of $1,890 to a high of $1,917.90. On Wednesday, gold marked a 4.2% decline for September but scored a 5.3% increase for the third quarter — its eighth straight quarterly gain.

Silver for December delivery rebounded 76 cents, or 3.2%, to $24.254, following a 3.9% loss in the prior session. Silver futures traded between $23.32 and $24.32. On Wednesday, silver registered a 17.8% drop in September but still logged a 26.1% gain for the third quarter.

In other precious metals prices Thursday:

  • January platinum slipped $3.20, or 0.4%, to $906 an ounce, ranging between $895.10 and $919.10.

  • Palladium for December delivery dipped $2.30, or 0.1%, to $2,328.20 an ounce, trading between $2,312.50 and $2,351.

London Precious Metals Prices (LBMA)

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

  • Gold gained $15.10, or 0.8%, to $1,902 an ounce.
  • Silver declined 10.5 cents, or 0.4%, to $23.62 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 / Oct Last Week This Week July August September 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 9,500 0 107,500 104,000 18,500 557,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 4,000 10,000 3,000 58,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 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 3,000 0 30,000 28,000 4,500 188,500
$1 American Eagle 1 Oz Silver Coin 0 517,000 1,070,500 1,084,500 4,477,000 2,958,500 21,136,500
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 Prairie 5 oz Silver Coin* 0 45,000 0 N/A N/A 45,000 45,000
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 0 56,500

 

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