Gold Edges Higher For Fifth Gain in Six Sessions

by CoinNews.net on October 15, 2020 · 0 comments

Partial Photo of Bullion Gold

Gold futures finished less than 0.1% higher on Thursday, Oct. 15

Precious metals were little changed Thursday with gold and palladium closing slightly higher and silver and platinum ending modestly lower. Gold’s gain was its fifth in six sessions.

Gold for December delivery added $1.60, or 0.08%, to settle at $1,908.90 an ounce on the Comex division of the New York Mercantile Exchange.

"The focus is on renewed hopes for stimulus talks as the U.S. president keeps pushing to get a deal done and gold is ignoring the strength in the dollar," Reuters quoted ED&F Man Capital Markets analyst Edward Meir. "But with the dollar as strong as it is, the upside in gold will likely be limited."

Gold futures ranged from a low of $1,892.70 to a high of $1,912.20. They rose 0.7% on Wednesday, they shed 1.8% on Tuesday, and they edged 0.1% higher on Monday for their best settlement since Sept. 18.

Silver for December delivery lost 17.1 cents, or 0.7%, to $24.224. Silver futures traded between $23.65 and $24.42. They gained 1.1% on Wednesday, they sank 4.5% on Tuesday, and they gained 0.7% on Monday, also for their highest settlement since Sept. 18.

In other precious metals futures prices on Thursday:

  • January platinum dipped $2.10, or 0.2%, to $861.30 an ounce, ranging from $841.70 to $870.10.

  • Palladium for December delivery edged up 80 cents, or 0.03%, to $2,367.10 an ounce, trading between $2,327.10 and $2,374.20.

London Precious Metals Prices (LBMA)

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

  • Gold declined $18.15, or 1%, to $1,891.90 an ounce.
  • Silver fell 24 cents, or 1%, to $23.935 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales increased Tuesday by 3,000 ounces in American Gold Eagles and by 2,000 ounces in American Gold Buffalo gold 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)
Thursday Last Week This Week August September October 2020 Sales
$50 American Eagle 1 Oz Gold Coin 3,000 16,000 10,000 104,000 18,500 39,500 597,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 1,000 10,000 3,000 3,000 61,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 20,000 4,000 4,000 92,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 70,000 10,000 5,000 295,000
$50 American Buffalo 1 Oz Gold Coin 2,000 2,000 5,000 28,000 4,500 13,500 202,000
$1 American Eagle 1 Oz Silver Coin 0 826,000 582,000 4,477,000 2,958,500 1,408,000 22,544,500
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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