Precious metals rebounded Monday following losses on Friday. Gold and silver closed the day above two-week highs.
Gold for December delivery rose $12.50, or 0.7%, to settle at $1,920.10 an ounce on the Comex division of the New York Mercantile Exchange. The close was gold’s highest since Sept. 18.
"Gold and silver prices are higher in midday U.S. trading Monday, supported in part by a lower U.S. dollar index to start the trading week. Gains in the safe-haven metals are somewhat limited by less risk aversion in the marketplace to start the trading week–despite the still very fluid situation of U.S. President Trump’s Covid-19 condition," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
Gold futures ranged from a low of $1,891.20 to a high of $1,924.90. They advanced 2.2% last week.
Silver for December delivery tacked on 53.1 cents, or 2.2%, to end at $24.56. Like for gold, the finish was silver’s highest since Sept. 18. Silver futures traded between $23.80 and $24.68. They moved 4.1% ahead last week.
In other precious metals futures prices on Monday:
-
January platinum gained $13.60, or 1.5%, to $904.70 an ounce, ranging from $880.70 to $909.
- Palladium for December delivery jumped $53.40, or 2.3%, to $2,378.40 an ounce, trading between $2,303.20 and $2,383.80.
Last week platinum surged 5.9% and palladium increased 4.6%.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold added $6.55, or 0.3%, to $1,909.60 an ounce.
- Silver added a half cent, or 0.2, to $23.915 an ounce.
In LBMA results last week, prices climbed 2.3% for gold, 5.5% for silver, 5.9% for platinum and 4.9% for palladium.
US Mint Bullion Sales in 2020
United States Mint bullion sales were unchanged Monday. 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) | ||||||
|---|---|---|---|---|---|---|
| Monday | Last Week | August | September | October | 2020 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 13,500 | 104,000 | 18,500 | 13,500 | 571,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 10,000 | 3,000 | 1,000 | 59,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 20,000 | 4,000 | 2,000 | 90,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 70,000 | 10,000 | 5,000 | 295,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 6,500 | 28,000 | 4,500 | 6,500 | 195,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 1,070,500 | 4,477,000 | 2,958,500 | 0 | 21,136,500 |
| 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 | 0 | 0 | 45,000 |
| Tallgrass Prairie 5 oz Silver Coin* | 0 | 0 | N/A | 45,000 | 0 | 45,000 |
| $1 American Eagle 1 Oz Platinum Coin* | 0 | 0 | 0 | 0 | 0 | 56,500 |
