Gold, Silver and Platinum Prices Fall Tuesday, Oct. 6

by CoinNews.net on October 6, 2020 · 0 comments

Several 999.9 gold bullion bars

Gold prices shed 0.6% on Tuesday, Oct. 6

Gold, silver and platinum prices declined on Tuesday following their gains on Monday. Palladium, meanwhile, advanced for a second day in a row.

Gold for December delivery fell $11.30, or 0.6%, to settle at $1,908.80 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold and silver prices are lower in midday U.S. trading Tuesday, pressured by a modest rebound in the U.S. dollar index today and by still-upbeat traders and investor risk attitudes early this week," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,902.90 to a high of $1,927. They rose 0.7% on Monday, marking their highest settlement since Sept.18.

Silver for December delivery tumbled 63.9 cents, or 2.6%, to finish at $23.921. Silver futures traded between $23.81 and $24.65. They surged 2.2% on Monday, also logging their highest close since Sept. 18.

In other precious metals futures prices Tuesday:

  • January platinum dropped $34.40, or 3.8%, to $870.30 an ounce, ranging from $861 to $909.80.

  • Palladium for December delivery gained $12.80, or 0.5%, to $2,391.20 an ounce, trading between $2,355.50 and $2,399.

London Precious Metals Prices (LBMA)

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

  • Gold added $3.80, or 0.2%, to $1,913.40 an ounce.
  • Silver added 38.5 cents, or 1.6%, to $24.30 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales increased Tuesday by a combined 16,500 ounces in gold coins and 649,000 ounces in silver 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 / This Week Last Week August September October 2020 Sales
$50 American Eagle 1 Oz Gold Coin 14,000 13,500 104,000 18,500 27,500 585,000
$25 American Eagle 1/2 Oz Gold Coin 1,000 1,000 10,000 3,000 2,000 60,000
$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 2,000 6,500 28,000 4,500 8,500 197,000
$1 American Eagle 1 Oz Silver Coin 649,000 1,070,500 4,477,000 2,958,500 649,000 21,785,500
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

 

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