Gold Edges Higher; Silver and Platinum Log Third Losses

by CoinNews.net on October 8, 2020 · 0 comments

Pile of Gold Bullion

Gold prices gained 0.2% on Thursday, Oct. 8

Precious metals finished mixed Thursday with gold and palladium rising and silver and platinum falling. Losses in silver and platinum were their third in a row.

Gold for December delivery rose $4.30, or 0.2%, to settle at $1,895.10 an ounce on the Comex division of the New York Mercantile Exchange.

"It’s (gold) going to move higher, it’s going to be volatile. That’s going to be true for the next month going into the election, it’s going to be true for the two months after the election," Reuters quoted Jeffrey Christian, managing partner of CPM Group.

Gold futures ranged from a low of $1,885.30 to a high of $1,905.30. They declined 0.9% on Wednesday, they fell 0.6% on Tuesday, and they rose 0.7% on Monday — marking their highest settlement since Sept.18.

Silver for December delivery dipped 2 cents, or 0.08%, to close at $23.876. Silver futures traded between $23.77 and $24.36. They shed 0.1% on Wednesday, they tumbled 2.6% on Tuesday and they surged 2.2% on Monday — logging their highest close since Sept. 18.

In other precious metals prices Thursday:

  • January platinum fell $2.80, or 0.3%, to $864 an ounce, ranging from $861.10 to $878.70.

  • Palladium for December delivery tacked on $20.90, or 0.9%, to $2,403 an ounce, trading between $2,366.20 and $2,437.30.

London Precious Metals Prices (LBMA)

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

  • Gold rose $2.95, or 0.2%, to $1,887.45 an ounce.
  • Silver added 43 cents, or 1.8%, to $23.96 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales increased Thursday by 1,000 ounces in American Gold Eagles. 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 Last Week This Week August September October 2020 Sales
$50 American Eagle 1 Oz Gold Coin 1,000 13,500 16,000 104,000 18,500 29,500 587,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 1,000 10,000 3,000 2,000 60,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 20,000 4,000 2,000 90,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 0 70,000 10,000 5,000 295,000
$50 American Buffalo 1 Oz Gold Coin 0 6,500 2,000 28,000 4,500 8,500 197,000
$1 American Eagle 1 Oz Silver Coin 0 1,070,500 826,000 4,477,000 2,958,500 826,000 21,962,500
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 0 0 0 45,000
Tallgrass Prairie 5 oz Silver Coin* 0 0 0 N/A 45,000 0 45,000
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 0 56,500

 

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