Precious Metals Rise Thursday, Nov. 12

by CoinNews.net on November 12, 2020 · 0 comments

Gold bullion bars

Gold gained 0.6% on Thursday, Nov. 12, but prices are 4% lower on the week to date

Precious metals posted gains Thursday, led by a 1.8% increase in platinum. The metals realized safe-haven support as Wall Street retreated.

Gold for December delivery rose $11.70, or 0.6%, to settle at $1,873.30 an ounce on the Comex division of the New York Mercantile Exchange.

"Safe-haven demand is featured late this week as the early-week stock market rallies are now becoming suspect amid the spike in Covid-19 cases in the U.S. and Europe. The precious metals are also seeing some support from a weaker U.S. dollar index on this day," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,860.70 to a high of $1,878.80. They fell 0.8% on Wednesday, they gained 1.2% on Tuesday and they dropped 6% on Monday, registering their lowest settlement since July 21.

Silver for December delivery settled up 3.9 cents, or 0.2%, to $24.306. Silver futures traded between $24.09 and $24.43. They shed 0.8% on Wednesday, they surged 3.2% on Tuesday and they tumbled 7.6% on Monday, posting their weakest close since Oct. 30.

In other precious metals prices Thursday:

  • January platinum moved up $15.90, or 1.8%, to $884 an ounce, ranging from $865 to $887.

  • Palladium for December delivery advanced $25.10, or 1.1%, to $2,341.90 an ounce, trading between $2,315.30 and $2,368.30.

London Precious Metals Prices (LBMA)

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

  • Gold added $13.90, or 0.8%, to $1,874.85 an ounce.
  • Silver gained a half penny, or 0.02%, to $24.215 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales were unchanged Thursday. 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)
Thursday Last Week This Week September October November 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 22,000 7,000 18,500 64,500 29,000 651,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 1,000 3,000 6,000 2,000 66,000
$10 American Eagle 1/4 Oz Gold Coin 0 4,000 4,000 4,000 8,000 8,000 104,000
$5 American Eagle 1/10 Oz Gold Coin 0 15,000 10,000 10,000 25,000 25,000 340,000
$50 American Buffalo 1 Oz Gold Coin 0 7,500 1,500 4,500 19,500 9,000 217,000
$1 American Eagle 1 Oz Silver Coin 0 1,653,000 1,048,500 2,958,500 3,397,000 2,701,500 27,235,000
America Samoa 5 oz Silver Coin* 0 0 0 0 0 0 45,000
Weir Farm 5 oz Silver Coin* 0 0 0 0 0 0 45,000
Salt River Bay 5 oz Silver Coin* 0 0 0 0 0 0 45,000
Marsh Billings 5 oz Silver Coin* 0 0 0 0 0 0 45,000
Tallgrass Prairie 5 oz Silver Coin* 0 0 0 45,000 0 0 45,000
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 0 56,500

 

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments