Precious metals posted gains in their launch to the new trading week and month on Monday. Silver performed the best, rising 1.6%.
Gold for December delivery rose $12.60, or 0.7%, to settle at $1,892.50 an ounce on the Comex division of the New York Mercantile Exchange.
"(Gold) is stuck in a trading range, the dollar is a bit better than last week but still within a trading range for the past month or so," Reuters quoted Afshin Nabavi, senior vice president at precious metals trader MKS SA. "So as long as we don’t see a break up or down in the dollar, don’t think you’re going to see anything exceptional on the precious side."
Gold futures ranged from a low of $1,873.30 to a high of $1,896.10. They closed 1.3% lower last week, registering an October loss of 0.8%.
Silver for December delivery tacked on 38.7 cents to settle at $24.033. Silver futures traded between $23.46 and $24.26. They fell 4.2% last week but still logged a modest 0.7% increase in October.
In other precious metals futures prices on Monday:
January platinum rose $11.10, or 1.3%, to $859.50 an ounce, ranging from $838.20 to $866.
- Palladium for December delivery added $3.20, or 0.1%, to $2,220.40 an ounce, trading between $2,196 and $2,270.
Both declined last week — 6.4% for platinum and 7.6% for palladium — and in October — 6.7% for platinum and 4.9% for palladium.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold added $8.05, or 0.4%, to $1,889.90 an ounce.
- Silver rose 35 cents, or 1.5%, to $23.975 an ounce.
In LBMA results last week, prices declined 1.1% for gold, 4.6% for silver, 7.1% for platinum and 6.9% for palladium. For for last month, they fell 0.3% for gold, 0.4% for silver, 3.6% for platinum and 4.6% for palladium.
US Mint Bullion Sales in 2020
United States Mint bullion sales were unchanged. 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 / Week / Nov||Last Week||August||September||October||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||18,000||104,000||18,500||64,500||622,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||10,000||3,000||6,000||64,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||4,000||20,000||4,000||8,000||96,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||15,000||70,000||10,000||25,000||315,000|
|$50 American Buffalo 1 Oz Gold Coin||0||5,000||28,000||4,500||19,500||208,000|
|$1 American Eagle 1 Oz Silver Coin||0||937,000||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|