Precious Metals Rise in November Start

by CoinNews.net on November 2, 2020 · 0 comments

Gold Bullion and US Money

Gold prices climbed 0.7% on Monday, Nov. 2

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

 

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