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 |
