Gold and silver futures registered their fourth set of losses in five sessions in their start to the new week, month and quarter on Monday, with both metals ending at eight-week lows.
Gold for December delivery declined $9, or 0.7%, to finish at $1,275.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the lowest since Aug. 8 when prices ended at $1,262.60 an ounce.
"The appreciating U.S. dollar on the foreign exchange market and little risk aversion in the marketplace at present are bearish elements for the gold and silver markets," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
Gold futures traded from a low of $1,273.70 to a high of $1,282.80. They fell 1% last week, ending 2.8% lower in September but rising 3.4% in the third quarter.
Silver for December delivery slipped 2.2 cents, or 1%, to settle at $16.654 an ounce. The settlement is also the lowest since Aug. 8, when the white metal ended at $16.389 an ounce. Silver futures ranged between $16.56 and $16.75. They declined 1.8% last week, marking a 5.1% plunge in September but a modest 0.3% increase for the third quarter.
In other precious metals prices Monday:
-
January platinum added $1.10, or 0.1%, to $916.60 an ounce, trading between $911.70 and $920.70.
- Palladium for December delivery lost $25.55, or 2.7%, to $911.30 an ounce, ranging from $906.35 to $938.80.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold declined $9.40, or 0.7%, to 1,273.70 an ounce.
- Silver declined 28 cents, or 1.7%, to $16.58 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Sales in 2017
United States bullion gains included 1,500 ounces in American Gold Eagles; 500 ounces in American Gold Buffalos and 100,000 American Silver Eagles.
Below is a sales breakdown of U.S. 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 | YTD | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 20,000 |
| $25 American Eagle 1 Oz Palladium Coin* | 0 | 15,000 | 15,000 | 15,000 |
| $50 American Eagle 1 Oz Gold Coin | 1,000 | 2,000 | 8,000 | 171,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 1,000 | 1,000 | 1,000 | 31,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 2,000 | 56,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 25,000 | 330,000 |
| $50 American Buffalo 1 Oz Gold Coin | 500 | 0 | 1,500 | 77,000 |
| $1 American Eagle 1 Oz Silver Coin | 100,000 | 195,000 | 320,000 | 15,998,500 |
| 2017 Effigy Mounds 5 Oz Silver Coin | 0 | 0 | 0 | 35,000 |
| 2017 Frederick Douglass 5 Oz Silver Coin | 0 | 0 | 0 | 20,000 |
| 2017 Ozark Riverways 5 Oz Silver Coin | 0 | 0 | 0 | 20,000 |
| 2017 Ellis Island 5 Oz Silver Coin* | 0 | 0 | 0 | 40,000 |
The real headline today is that palladium is down $26 per ounce! That is after reaching a 16-year high last week when the U.S. Mint issued its first palladium coins in its 225 year history.
-NumisdudeTX
could this be a coincidence? well if the instance were sporadic there would be reason for doubt as far as palladium go’s.