Gold Marks Sixth Gain in Seven Sessions

by CoinNews.net on October 27, 2020 · 0 comments

Gold Bullion, five bars

Gold futures rose 0.3% on Tuesday, Oct. 27

All but palladium advanced in precious metals trading action Tuesday. Gold’s gain was its sixth in seven sessions.

Gold for December delivery added $6.20, or 0.3%, to settle at $1,911.90 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is stuck in a tight range and there’s probably not going to be too much activity before the U.S. election," Reuters quoted Michael Matousek, head trader at U.S. Global Investors.

Gold futures ranged from a low of $1,898.70 to a high of $1,913. They edged up 0.03% on Monday.

Silver for December delivery climbed 15 cents, or 0.6%, to settle at $24.57. Silver futures traded between $24.33 and $24.76. They fell 1% on Monday.

In other precious metals futures Tuesday:

  • January platinum rose $9.40, or 1.1%, to $886.80 an ounce, ranging from $872.60 to $889.10.

  • Palladium for December delivery declined $14.80, or 0.6%, to $2,353.90 an ounce, trading between $2,324.60 and $2,395.

London Precious Metals Prices (LBMA)

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

  • Gold added $7.25, or 0.4%, to $1,905.70 an ounce.
  • Silver added 15.5 cents, or 0.6%, to $24.435 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales increased Tuesday by a combined 15,000 ounces in gold coins and 937,000 ounces in silver 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)
Tuesday / This Week Last Week August September October 2020 Sales
$50 American Eagle 1 Oz Gold Coin 8,000 7,000 104,000 18,500 54,500 612,000
$25 American Eagle 1/2 Oz Gold Coin 1,000 2,000 10,000 3,000 6,000 64,000
$10 American Eagle 1/4 Oz Gold Coin 4,000 0 20,000 4,000 8,000 96,000
$5 American Eagle 1/10 Oz Gold Coin 10,000 5,000 70,000 10,000 20,000 310,000
$50 American Buffalo 1 Oz Gold Coin 4,500 1,000 28,000 4,500 19,000 207,500
$1 American Eagle 1 Oz Silver Coin 937,000 761,000 4,477,000 2,958,500 3,397,000 24,533,500
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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