Gold Rises Monday, Oct. 26; Other Precious Metals Fall

by CoinNews.net on October 26, 2020 · 0 comments

Two Gold Bullion Bars

Gold settled less than 0.1% higher on Monday, Oct. 26

Gold futures rose slightly in their start to the new trading week on Monday, while silver, platinum and palladium declined. Gold’s gain was its fifth in six sessions.

Gold for December delivery inched up 50 cents, or 0.03%, to close at $1,905.70 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold has been trapped between $1,930 – $1,880. It is waiting to take cues from the election and there’s this resurgence of the pandemic," Reuters quoted Phillip Streible, chief market strategist at Blue Line Futures in Chicago. "But the dollar index is up today, (and) has a strong inverse correlation to gold," he added.

Gold futures ranged from a low of $1,892.50 to a high of $1,908.80. They edged 0.06% lower last week.

Silver for December delivery fell 25.5 cents, or 1%, to settle at $24.42. Silver futures traded between $24.14 and $24.77. They moved ahead 1.1% last week.

In other precious metals futures prices on Monday:

  • January platinum settled down $29.30, or 3.2%, to $877.40 an ounce, ranging from $870.80 to $911.

  • Palladium for December delivery gave back $29.90, or 1.3%, to $2,368.70 an ounce, trading between $2,368 and $2,406.90.

Last week platinum gained 4.3% and palladium rose 2.4%.

London Precious Metals Prices (LBMA)

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

  • Gold shed $5.20, or 0.3%, to $1,898.45 an ounce.
  • Silver dropped 48 cents, or 1.9%, to $24.28 an ounce.

In LBMA results last week, prices declined 0.07% for gold while they advanced 1.6% for silver, 5.4% for platinum and 2.7% 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 7,000 104,000 18,500 46,500 604,000
$25 American Eagle 1/2 Oz Gold Coin 0 2,000 10,000 3,000 5,000 63,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 20,000 4,000 4,000 92,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 70,000 10,000 10,000 300,000
$50 American Buffalo 1 Oz Gold Coin 0 1,000 28,000 4,500 14,500 203,000
$1 American Eagle 1 Oz Silver Coin 0 761,000 4,477,000 2,958,500 2,460,000 23,596,500
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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