Gold, Silver and Platinum Surge in December Start

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US Dollars and Gold Bullion Bars
Gold prices settled 2.1% higher on Tuesday, Dec. 1

Precious metals kicked off the new trading month Tuesday with gains that ranged from 1% for palladium to 6.6% for silver.

Gold for February delivery jumped $38, or 2.1%, to settle at $1,818.90 an ounce on the Comex division of the New York Mercantile Exchange.

"We saw gold recapture the $1,800 level and a lot of that has to do with the weakening dollar trade," Reuters quoted Edward Moya, senior market analyst at OANDA.

Gold futures ranged from a low of $1,778.40 to a high of $1,821.10. They declined 0.4% on Monday, marking their lowest settlement since July 1 and ending the month of November with a 5.3% loss.

Silver for March delivery soared $1.50 to close at $24.09 an ounce. Silver futures traded between $22.66 and $24.18. They slipped 0.2% on Monday, logging their weakest finish since July 21 and posting a 4.5% loss for November.

In other precious metals futures prices Tuesday:

  • January platinum rose $38, or 3.9%, to $1,003.90 an ounce, ranging from $968 to $1,008.

  • Palladium for March delivery advanced $23.80 to $2,429.70 an ounce, trading between $2,383.60 and $2,446.40.

Last month platinum gained 13.9% and palladium increased 8.5%.

London Precious Metals Prices (LBMA)

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

  • Gold rose $48.20, or 2.7%, to $1,810.75 an ounce.
  • Silver soared $1.39, or 6.3%, to $23.535 an ounce.

In LBMA results last month, prices declined 6.3% for gold, they fell 6.2% for silver, they jumped 14.9% for platinum and they rose 7.7% for palladium.

US Mint Bullion Sales in 2020

United States Mint bullion sales increased Tuesday by 4,500 ounces in American Gold Eagles, 3,500 ounces in American Gold Buffalos, and 276,000 ounces in American Silver 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)
Tuesday / December Last Week This Week September October November 2020 Sales
$50 American Eagle 1 Oz Gold Coin 4,500 18,500 10,500 18,500 64,500 77,000 703,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 3,000 6,000 4,000 68,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 4,000 8,000 10,000 106,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 5,000 10,000 25,000 35,000 350,000
$50 American Buffalo 1 Oz Gold Coin 3,500 5,500 6,500 4,500 19,500 23,500 235,000
$1 American Eagle 1 Oz Silver Coin 276,000 825,000 800,000 2,958,500 3,397,000 4,805,000 29,614,500
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

 

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