Gold Marks 6-Week High; Silver Logs 3-Month High

0
9999 gold bullion
Gold ended Thursday at its highest price since Nov. 6

In trading action Thursday, palladium declined while gold, silver and platinum gained. Gold scored a six-week high and silver ended at a three-month high.

Gold for February delivery advanced $31.30, or 1.7%, to settle at $1,890.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Nov. 6.

"A combination of an additional stimulus package along with additional bond buying and asset purchases from the Fed has clearly driven gold and silver prices higher," Reuters quoted David Meger, director of metals trading at High Ridge Futures.

Gold futures ranged from a low of $1,865.90 to a high of $1,902. They rose 0.2% on Wednesday, they added 1.3% on Tuesday, and they slipped 0.6% on Monday.

Silver for March delivery soared $1.13, or 4.5%, to close at $26.181 an ounce. The finish was silver’s highest since Sept. 18. Silver futures traded between $25.33 and $26.31. They tacked on 1.7% on Wednesday, they jumped 2.5% on Tuesday, and they retreated 0.2% on Monday.

In other precious metals futures on Thursday:

  • January platinum gained $14.70, or 1.4%, to $1,050.10 an ounce, ranging from $1,034.90 to $1,064.80.

  • Palladium for March delivery dipped 70 cents, or 0.03%, to $2,347.50 an ounce, trading between $2,328.50 and $2,366.

London Precious Metals Prices (LBMA)

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

  • Gold rose $38.80, or 2.1%, to $1,890.75 an ounce.
  • Silver surged 61 cents, or 2.4%, to $25.70 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales were unchanged Thursday. 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)
Thursday Last Week This Week October November December 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 24,000 5,000 64,500 77,000 35,500 734,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 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 0 25,000 35,000 0 350,000
$50 American Buffalo 1 Oz Gold Coin 0 2,500 0 19,500 23,500 7,000 238,500
$1 American Eagle 1 Oz Silver Coin 0 475,000 0 3,397,000 4,805,000 751,000 30,089,500
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

 

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments