Gold, Silver and Platinum Decline Wed., Nov. 4

by CoinNews.net on November 4, 2020 · 0 comments

Gold Bullion Bars

Gold futures shed 0.7% on Wednesday, Nov. 4

Gold, silver and platinum lost ground Wednesday following two days of across-the-board precious metals gains. Palladium’s increase was its fourth straight.

Gold for December delivery lost $14.20, or 0.7%, to settle at $1,896.20 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold and silver futures prices are lower in midday U.S. trading Wednesday. Big, post-U.S. election rallies in U.S. stock indexes and less risk aversion at mid-week have put the brakes on this week’s rallies in the two precious metals," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research a report.

Gold futures ranged from a low of $1,881.80 to a high of $1,917.90. They rose 1% on Tuesday for their best finish since Oct. 27, and they gained 0.7% on Monday.

Silver for December delivery gave back 44.1 cents, or 1.8%, to settle at $23.893. Silver futures traded between $23.26 and $24.62. They added 1.3% on Tuesday, also for their highest close since Oct. 27, and they advanced 1.6% on Monday.

In PGM futures on Wednesday:

  • January platinum shed $4.90, or 0.6%, to $870.10 an ounce, ranging from $850 to $880.50.

  • Palladium for December delivery gained $9.80, or 0.4%, to $2,307.60 an ounce, trading between $2,232.10 and $2,305.

London Precious Metals Prices (LBMA)

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

  • Gold fell $8.15, or 0.4%, to $1,900.15 an ounce.
  • Silver declined 19.5 cents, or 0.8%, to $23.975 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales increased Wednesday by 16,500 ounces in American Gold Eagles and 4,500 ounces in American Gold Buffalos.

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 Week / Nov September October 2020 Sales
$50 American Eagle 1 Oz Gold Coin 8,500 18,000 14,500 18,500 64,500 636,500
$25 American Eagle 1/2 Oz Gold Coin 1,000 1,000 1,000 3,000 6,000 65,000
$10 American Eagle 1/4 Oz Gold Coin 2,000 4,000 4,000 4,000 8,000 100,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 15,000 10,000 10,000 25,000 325,000
$50 American Buffalo 1 Oz Gold Coin 4,500 5,000 6,000 4,500 19,500 214,000
$1 American Eagle 1 Oz Silver Coin 0 937,000 1,653,000 2,958,500 3,397,000 26,186,500
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 0 45,000 0 45,000
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 56,500

 

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