Gold and Platinum Gain Wed., Dec. 2

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Bullion Gold Bars, Three
Gold futures ended 0.6% higher Wednesday, Dec. 2

Precious metals split Wednesday with gold and platinum rising and silver and palladium falling. Gold’s gain was its second in a row. The yellow metal ended at a more than one-week high.

Gold for February delivery rose $11.30, or 0.6%, to settle at $1,830.00 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Nov. 23.

"Gold futures prices are higher in midday trading Wednesday, on some impressive follow-through strength from the big gains posted Tuesday. Short covering in the futures market and perceived bargain buying in the cash market were featured again today. A slumping U.S. dollar index that today hit a 2.5-year low is also a bullish element for the metals markets. Solid gains in the crude oil market today were also friendly for the metals," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,810.50 to a high of $1,835. They jumped 2.1% on Tuesday and 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 dipped a penny, or 0.04%, to close at $24.08 an ounce. Silver futures traded between $23.68 and $24.46. They soared 6.6% on Tuesday and they slipped 0.2% on Monday, logging their weakest finish since July 21 and posting a 4.5% loss for November.

In PGM futures on Wednesday:

  • January platinum added $8.20, or 0.8%, to $1,012.10 an ounce, ranging from $968.10 to $1,023.50.

  • Palladium for March delivery fell $21.50, or 0.9%, to $2,408.20 an ounce, trading between $2,383.10 and $2,440.

London Precious Metals Prices (LBMA)

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

  • Gold rose $11.85, or 0.7%, to $1,822.60 an ounce.
  • Silver gained 44.5 cents, or 1.9%, to $23.98 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales were unchanged Wednesday. 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 October November December 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 18,500 10,500 64,500 77,000 4,500 703,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 6,000 4,000 0 68,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 8,000 10,000 0 106,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 5,000 25,000 35,000 0 350,000
$50 American Buffalo 1 Oz Gold Coin 0 5,500 6,500 19,500 23,500 3,500 235,000
$1 American Eagle 1 Oz Silver Coin 0 825,000 800,000 3,397,000 4,805,000 276,000 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 0 0 0 45,000
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 0 56,500

 

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