Gold futures started the new trading week on Monday with a fifth straight session increase and a fresh, more than three-month settlement high.
Gold for February delivery edged up 50 cents, or 0.03%, to close at $1,518.60 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the highest since gold ended at $1,540.20 an ounce on Sept. 24.
"Bullish charts and ideas of better consumer demand for precious metals in 2020 have been propelling prices," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
"A feature in a quieter marketplace recently has been the rally in gold prices. Gold is on track to post its best annual price performance since 2010, with a gain of around 18% for the year."
Gold futures ranged from a low of $1,513.50 to a high of $1,519.10. They rose 2.5% last week for their best week since the one ended Aug. 9.
Silver for March delivery added 5.8 cents, or 0.3%, to close at $18.001 an ounce. The settlement was the highest since Nov. 4 when silver ended at $18.066 an ounce. Silver futures traded between $17.83 and $18.02. They soared 4.2% last week.
In other precious metals prices on Monday:
-
April platinum added $8.80, or 0.9%, to $965.40 an ounce, ranging from $951.90 to $967.90.
- Palladium for March delivery shed 70 cents, or 0.04%, to $1,880.50 an ounce, trading between $1,872.30 and $1,885.10.
Last week, platinum surged 4.7% and palladium rallied 4%.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold rose $3.25, or 2%, to $1,514.75 an ounce.
- Silver was unchanged at $17.825 an ounce.
In LBMA weekly results last week, gold gained 2.2% for gold and silver jumped 4.6%.
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 | November | December | 2019 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 8,000 | 2,000 | 108,000 |
| $25 American Eagle 1/2 Oz Gold Coin* | 0 | 0 | 5,000 | 0 | 30,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 2,000 | 0 | 38,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 0 | 195,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 5,000 | 1,500 | 61,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 463,000 | 0 | 14,863,500 |
| Frank Church River of No Return Wilderness 5 Oz Silver Coin | 0 | 0 | 20,000 | 5,000 | 25,000 |
| San Antonio Missions 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 55,200 |
| War in the Pacific 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 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 | |||
