Gold Marks Best Settlement Price in a Month

by CoinNews.net on October 21, 2020 · 0 comments

Bullion Gold Bars, Three

Gold futures ended Wednesday, Oct. 21, at a more than one-month low

Precious metals futures posted a second day of across-the-board gains on Wednesday. Gold finished at a more than one-month high.

Gold for December delivery added $14.10, or 0.7%, to settle at $1,929.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was gold’s highest since Sept. 18.

"Support at mid-week comes from a weakening U.S. dollar index that hit a six-week low today. Weaker U.S. stock indexes at midday are also aiding the precious metals markets, which are a competing asset class with equities," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,911.60 to a high of $1,936. They rose 0.2% on Tuesday and they moved up 0.3% on Monday.

Silver for December delivery advanced 26.1 cents, or 1%, to settle at $25.241. The close was silver’s best since Oct. 12. Silver futures traded between $24.77 and $25.43. They added 1.1% on Tuesday and they tacked on 1.2% on Monday.

In PGM futures on Wednesday:

  • January platinum gained $16.60, or 1.9%, to $893.90 an ounce, ranging from $875.10 to $898.70.

  • Palladium for December delivery rose $9.80, or 0.4%, to $2,427.50 an ounce, trading between $2,406.20 and $2,429.70.

London Precious Metals Prices (LBMA)

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

  • Gold gained $25.75, or 1.4%, to $1,924.15 an ounce.
  • Silver added 39 cents, or 1.6%, to $25.02 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales were unchanged Wednesday. 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)
Wednesday Last Week This Week August September October 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 10,000 5,500 104,000 18,500 45,000 602,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 2,000 10,000 3,000 5,000 63,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 20,000 4,000 4,000 92,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 5,000 70,000 10,000 10,000 300,000
$50 American Buffalo 1 Oz Gold Coin 0 5,000 500 28,000 4,500 14,000 202,500
$1 American Eagle 1 Oz Silver Coin 0 873,000 724,000 4,477,000 2,958,500 2,423,000 23,559,500
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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