Aside from palladium, precious metals futures gained in starting the new trading week on Monday. Platinum advanced the most, followed by silver and then gold.
Gold for December delivery tacked on $15.80, or 0.8%, to settle at $1,963.70 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold is rising as the dollar is under quite a bit of pressure. We also saw Steven Mnuchin indicating that they want some kind of fiscal stimulus deal done, so that would further weaken the dollar," Reuters quoted Phillip Streible, chief market strategist at Blue Line Futures in Chicago.
Gold futures ranged from a low of $1,945.20 to a high of $1,972.50. They climbed 0.7% last week.
Silver for December delivery surged 49.8 cents, or 1.9%, to end at $27.355 an ounce. Silver futures traded between $26.85 and $27.55. They edged 0.5% higher last week.
In other precious metals futures prices on Monday:
-
October platinum rose $19.10, or 2%, to $958.70 an ounce, ranging from $932.10 to $966.
- Palladium for December delivery declined $6.40, or 0.3%, to $2,324.40 an ounce, trading between $2,318.80 and $2,364.10.
Last week platinum soared 4.6% and palladium dipped 0.5%.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold added $11.30, or 0.6%, to $1,958.70 an ounce.
- Silver added a cent, or 0.04%, to $26.885 an ounce.
In LBMA results last, prices rose 1.1% for gold, 0.2% for silver, 2.9% for platinum and 0.5% for palladium.
US Mint Bullion Sales in 2020
The United States Mint bullion sales advanced on Monday by a combined 3,000 ounces in gold coins and 331,000 ounces in silver coins.
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 | July | August | September | 2020 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 2,000 | 1,500 | 107,500 | 104,000 | 3,500 | 544,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 4,000 | 10,000 | 1,000 | 56,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 10,000 | 20,000 | 2,000 | 86,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 10,000 | 35,000 | 70,000 | 10,000 | 290,000 |
| $50 American Buffalo 1 Oz Gold Coin | 1,000 | 500 | 30,000 | 28,000 | 1,500 | 185,500 |
| $1 American Eagle 1 Oz Silver Coin | 331,000 | 1,000,000 | 1,084,500 | 4,477,000 | 1,331,000 | 19,509,000 |
| America Samoa 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 45,000 |
| Weir Farm 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 45,000 |
| Salt River Bay 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 45,000 |
| Marsh Billings 5 oz Silver Coin* | 0 | 0 | 45,000 | 0 | 0 | 45,000 |
| $1 American Eagle 1 Oz Platinum Coin* | 0 | 0 | 0 | 0 | 0 | 56,500 |
