Precious Metals Divide in Market October 21

Precious metals futures lacked a lot of change in kicking of the new trading week. Silver and palladium climbed while gold and platinum retreated.

Gold for December delivery declined $6, or 0.4%, to settle at $1,488.10 an ounce on the Comex division of the New York Mercantile Exchange.

“The safe-haven metals are seeing buying interest squelched by higher global equity markets to start the trading week,” Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. “The U.S. stock indexes are trading very close to their yearly and all-time highs.”

Gold futures ranged from a low of $1,486.50 to a high of $1,498.70. They edged up 0.4% last week.

Silver for December delivery rose 2.4 cents, or 0.1%, to end at $17.602 an ounce. Silver futures traded between $17.53 and $17.90. They advanced 0.2% last week, for their first weekly gain in four weeks.

In other precious metals futures prices on Monday:

  • January platinum dipped $3.70, or 0.4%, to $892.20 an ounce, ranging from $888.70 to $902.90.

  • Palladium for December delivery tacked on $7.70, or 0.5%, to $1,725.30 an ounce, trading between $1,718.60 and $1,746.20. Last Wednesday, they scored a record settlement of $1,735 an ounce.

Last week, platinum declined 0.5% while palladium jumped 2.8%.

London Precious Metals Prices

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

  • Gold rose $1.65, or 0.1%, to $1,491.65 an ounce.
  • Silver moved up 29 cents, or 1.7%, to $17.725 an ounce.

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

In LBMA results last week, gold added 0.7%, silver lost 0.9%, and platinum fell 0.2%.

US Mint 2019 Bullion Sales

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. Products with an asterisk (*) are no longer available.

US MINT BULLION SALES (# OF COINS)
Monday Last Week September October 2019 Sales
$50 American Eagle 1 Oz Gold Coin 0 4,500 3,500 8,000 98,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 1,000 1,000 25,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 4,000 34,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 10,000 20,000 190,000
$50 American Buffalo 1 Oz Gold Coin 0 3,000 2,500 3,000 55,000
$1 American Eagle 1 Oz Silver Coin 0 408,500 1,021,000 943,500 14,233,500
San Antonio Missions 5 Oz Silver Coin 0 500 37,700 17,500 55,200
War in the Pacific 5 Oz Silver Coin 0 0 2,500 500 72,500
American Memorial Park 5 Oz Silver Coin* 0 0 0 0 80,000
Lowell 5 Oz Silver Coin* N/A 80,000
$100 American Eagle 1 Oz Platinum Coin* N/A 40,000

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