Gold and Silver Slip; Platinum Logs Fifth Straight Gain

by CoinNews.net on November 18, 2020 · 0 comments

6 gold bars

Gold prices finished 0.6% lower on Wed., Nov. 18

Precious metals prices divided Wednesday with platinum and palladium gaining and gold and silver falling. Platinum’s increase was its fifth in a row.

Gold for December delivery lost $11.20, or 0.6%, to settle at $1,873.90 an ounce on the Comex division of the New York Mercantile Exchange.

"Technically, December gold futures bulls have the overall near-term technical advantage. Bulls’ next upside price objective is to produce a close in December futures above solid resistance at $1,900.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at the November low of $1,848.00," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,860.30 to a high of $1,884.20. They shed 0.1% on Tuesday and they rose 0.08% on Monday.

Silver for December delivery fell 20.3 cents, or 0.8%, to settle at $24.448. Silver futures traded between $24.23 and $24.78. They gave back 0.6% on Tuesday and they edged 0.1% higher on Monday.

In PGM futures on Wednesday:

  • January platinum rose $13.80, or 1.5%, to $950.90 an ounce, ranging from $914.20 to $959.90.

  • Palladium for December delivery gained $27.50, or 1.2%, to $2,354 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 Tuesday PM to Wednesday PM:

  • Gold declined $12.95, or 0.7%, to $1,876.10 an ounce.
  • Silver fell 31.5 cents, or 1.3%, to $24.315 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales increased Wednesday by 478,500 ounces in silver coins and by 3,000 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)
Wednesday Last Week This Week September October November 2020 Sales
$50 American Eagle 1 Oz Gold Coin 2,000 7,000 23,500 18,500 64,500 52,500 674,500
$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 0 10,000 5,000 10,000 25,000 30,000 345,000
$50 American Buffalo 1 Oz Gold Coin 1,000 1,500 6,000 4,500 19,500 15,000 223,000
$1 American Eagle 1 Oz Silver Coin 478,500 1,048,500 276,000 2,958,500 3,397,000 3,456,000 27,989,500
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