Precious Metals Rise Monday, Nov. 16

by CoinNews.net on November 16, 2020 · 0 comments

closeup of gold bullion

Gold prices finished 0.08% higher Monday, Nov. 16

Precious metals started the new week with advances ranging from less than 0.1% for gold to 3.5% for platinum. Gains in gold, silver and platinum were their third in row.

Gold for December delivery rose $1.60, or 0.08%, to settle at $1,887.80 an ounce on the Comex division of the New York Mercantile Exchange.

"After losing modest overnight gains on news that another drug firm had a very good outcome on a Covid-19 vaccine trial, traders stepped in to buy the dip in the yellow metal and push prices back above unchanged," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,861.50 to a high of $1,898. They lost 3.4% last week.

Silver for December delivery added 2.7 cents, or 0.1%, to settle at $24.802. Silver futures traded between $24.25 and $25.16. They dropped 3.5% last week.

In other precious metals futures prices on Monday:

  • January platinum gained $31.50 to $927.50 an ounce, ranging from $890 to $931.70.

  • Palladium for December delivery finished up $15.40, or 0.7%, to $2,345.10 an ounce, trading between $2,305.30 and $2,363.90.

Last week platinum slipped 0.4% and palladium dropped 6.8%.

London Precious Metals Prices (LBMA)

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

  • Gold declined $5.30, or 0.3%, to $1,885.60 an ounce.
  • Silver added 2 cents, or 0.08%, to $24.265 an ounce.

In LBMA results last week, prices fell 2.6% for gold, 6% for silver, 1.5% for platinum and 4.8% for palladium.

US Mint Bullion Sales in 2020

United States Mint bullion sales increased Monday by 4,000 ounces in American Gold Buffalos and a combined 15,500 ounces in American Gold Eagles.

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 Last Week September October November 2020 Sales
$50 American Eagle 1 Oz Gold Coin 14,500 7,000 18,500 64,500 43,500 665,500
$25 American Eagle 1/2 Oz Gold Coin 1,000 1,000 3,000 6,000 3,000 67,000
$10 American Eagle 1/4 Oz Gold Coin 2,000 4,000 4,000 8,000 10,000 106,000
$5 American Eagle 1/10 Oz Gold Coin 0 10,000 10,000 25,000 25,000 340,000
$50 American Buffalo 1 Oz Gold Coin 4,000 1,500 4,500 19,500 13,000 221,000
$1 American Eagle 1 Oz Silver Coin 0 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 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 45,000 0 0 45,000
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 56,500

 

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