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Gold Price Drops Small Percentage Today – November 6, 2018


Precious metals futures declined Tuesday except for platinum which rose 0.2%. The losses ranged from 0.5% for gold to 2.3% for palladium.

Gold for December delivery declined $6 to settle at $1,226.30 an ounce on the Comex division of the New York Mercantile Exchange.

“It seems that the equity markets are doing pretty well ahead of the results of the elections. Unless we see any surprises in the elections gold will continue to stay range bound between $1,215 and $1,235,” Reuters quoted Walter Pehowich, executive vice president of investment services at Dillon Gage Metals.


Gold futures ranged from a low of $1,224.90 to a high of $1,237.80. They dipped less than 0.1% on Monday.

Silver for December delivery fell 14.7 cents, or 1%, to settle at $14.50 an ounce. Silver futures traded between $14.48 and $14.72. They lost 0.7% on Monday.

In rounding out precious metals futures dealings Tuesday:

  • January platinum rose $2.10 to $871.50 an ounce, ranging from $867.10 to $879.80.
  • Palladium for December delivery dropped $26.30 to $1,095.30 an ounce, trading between $1,087 and $1,120.10. On Monday, they closed just $1.20 away from an all-time record.

London Precious Metals Prices

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

  • Gold fell 6.5 cents, or less than 0.1%, to 1,231.60 an ounce.
  • Silver declined 3.5 cents, or 0.2%, to $14.70 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint Bullion Sales in 2018

United States Mint bullion sales were unchanged. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
Tuesday / NovemberLast WeekSeptemberOctober2018 Sales
$100 American Eagle 1 Oz Platinum Coin*000030,000
$50 American Eagle 1 Oz Gold Coin02,50014,50019,500170,500
$25 American Eagle 1/2 Oz Gold Coin002,0002,00026,000
$10 American Eagle 1/4 Oz Gold Coin02,0004,0002,00060,000
$5 American Eagle 1/10 Oz Gold Coin0040,00010,000210,000
$50 American Buffalo 1 Oz Gold Coin01,50011,0006,500114,500
$1 American Eagle 1 Oz Silver Coin075,0002,897,5001,405,00013,540,000
Pictured Rocks 5 Oz Silver Coin*000030,000
Apostle Islands 5 Oz Silver Coin*000030,000
Voyageurs 5 Oz Silver Coin*000030,000
Cumberland Island 5 Oz Silver Coin0052,500052,500


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