Precious metals divided Monday with gold and silver gaining and platinum and palladium declining. Gold and silver each ended at more than three-week highs.
Gold for December delivery settled up $2.70, or 0.1%, to $1,928.90 an ounce on the Comex division of the New York Mercantile Exchange. The finish was gold’s highest since Sept. 18.
"Technically gold is regaining strength with the consolidation above $1,920 a supportive signal for bullion and confirming traders’ huge interest," wrote Carlo Alberto De Casa, chief analyst at ActivTrades, in a Monday note, according to MarketWatch.
Gold futures ranged from a low of $1,923.80 to a high of $1,939.40. They climbed 1% last week.
Silver for December delivery tacked on 16.3 cents, or 0.7%, to settle at $25.271. As for gold, the settlement was silver’s highest since Sept. 18. Silver futures traded between $24.90 and $25.71. They jumped 4.5% last week.
In other precious metals futures prices on Monday:
January platinum declined $18, or 2%, to $876.30 an ounce, ranging from $872.90 to $897.10.
- Palladium for December delivery fell $37.60, or 1.5%, to $2,425.60 an ounce, trading between $2,410.70 and $2,480.
Last week platinum edged up 0.3% and palladium soared 5.9%.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold added $2.25, or 0.1%, to $1,925.50 an ounce.
- Silver added 74.5 cents, or 3.1%, to $25.06 an ounce.
In LBMA results last week, prices rose 1.1% for gold, 1.9% for silver, 0.1% for platinum and 6% 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||16,000||104,000||18,500||29,500||587,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||10,000||3,000||2,000||60,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||20,000||4,000||2,000||90,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||70,000||10,000||5,000||295,000|
|$50 American Buffalo 1 Oz Gold Coin||0||2,000||28,000||4,500||8,500||197,000|
|$1 American Eagle 1 Oz Silver Coin||0||826,000||4,477,000||2,958,500||826,000||21,962,500|
|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|
MAJOR silver coin & medal price increases tomorrow, Tuesday Oct. 13 at U.S. Mint!! (According to Oct. 8 issue of “The Federal Register”). Mint Director David J. Ryder is officially “insane” & a bad businessman to boot.