Gold and Silver Post First Losses in Four Sessions

by CoinNews.net on November 17, 2020 · 0 comments

Gold and coins

Gold slipped 0.1% on Tuesday, Nov. 17

In futures trading Tuesday, platinum gained for a fourth straight session while other metals declined. Losses for gold and silver were their first since Wednesday.

Gold for December delivery shed $2.70, or 0.1%, to settle at $1,885.10 an ounce on the Comex division of the New York Mercantile Exchange.

"There is a lack of conviction on the trajectory of safe haven flows, we’ve all this vaccine optimism in place, but we also have the U.S. and Europe still struggling with the pandemic," Reuters quoted Edward Moya, senior market analyst at OANDA. "Longer term trends are still supportive for gold to rally, but we’re seeing some investors kind of abandon their bullish bets. The vaccine news for many has made holding gold longer term less appealing."

Gold futures ranged from a low of $1,882.20 to a high of $1,892.70. They rose 0.08% on Monday.

Silver for December delivery declined 15.1 cents, or 0.6%, to settle at $24.651. Silver futures traded between $24.49 and $24.90. They edged 0.1% higher on Monday.

In other precious metals futures Tuesday:

  • January platinum climbed $9.60, or 1%, to $937.10 an ounce, ranging from $922.90 to $941.10.

  • Palladium for December delivery fell $18.60, or 0.8%, to $2,326.50 an ounce, trading between $2,310.60 and $2,349.20.

London Precious Metals Prices (LBMA)

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

  • Gold added $3.45, or 0.2%, to $1,889.05 an ounce.
  • Silver rose 36.5 cents, or 1.5%, to $24.63 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales increased Tuesday by 276,000 ounces in silver coins and by 8,500 ounces in gold coins.

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)
Tuesday Last Week This Week September October November 2020 Sales
$50 American Eagle 1 Oz Gold Coin 7,000 7,000 21,500 18,500 64,500 50,500 672,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 1,000 3,000 6,000 3,000 67,000
$10 American Eagle 1/4 Oz Gold Coin 0 4,000 2,000 4,000 8,000 10,000 106,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 10,000 5,000 10,000 25,000 30,000 345,000
$50 American Buffalo 1 Oz Gold Coin 1,000 1,500 5,000 4,500 19,500 14,000 222,000
$1 American Eagle 1 Oz Silver Coin 276,000 1,048,500 276,000 2,958,500 3,397,000 2,977,500 27,511,000
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

 

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