Precious metals rallied to start the new trading week on Monday, marking gains that ranged from 0.9% for gold to 5% for platinum.
Gold for December delivery gained $16 to settle at $1,882.30 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold has started to recuperate losses as the dollar has eased and real rates have edged lower," Reuters quoted Standard Chartered analyst Suki Cooper.
"There are plenty of risk events this week for gold to take its cue from, ranging from the first of three U.S. presidential debates to unemployment and inflation data."
Gold futures ranged from a low of $1,851.10 to a high of $1,885.30. They fell 4.9% last week, ending Friday at their lowest price since July 22.
Silver for December delivery surged 51.1 cents, or 2.2%, to end at $23.604 an ounce. Silver futures traded between $22.61 and $23.69. They tumbled 14.9% last week, closing Friday at their lowest level since July 24.
In other precious metals futures prices Monday:
-
January platinum jumped $42.20 to $891.40 an ounce, ranging from $848.80 to $896.
- Palladium for December delivery advanced $49.30, or 2.2%, to $2,271.50 an ounce, trading between $2,216.20 and $2,288.50.
Last week platinum declined 10.3% and palladium lost 6.7%.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold added $4.60, or 0.3%, to $1,864.30 an ounce.
- Silver added 26 cents, or 1.2%, to $22.89 an ounce.
In LBMA results last week, losses reached 4.7% for gold, 16.4% for silver, 10.4% for platinum and 5% for palladium.
US Mint Bullion Sales in 2020
United States Mint bullion sales were unchanged Monday. 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 | 0 | 9,500 | 107,500 | 104,000 | 18,500 | 557,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 4,000 | 10,000 | 3,000 | 58,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 10,000 | 20,000 | 4,000 | 88,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 35,000 | 70,000 | 10,000 | 290,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 3,000 | 30,000 | 28,000 | 4,500 | 188,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 517,000 | 1,084,500 | 4,477,000 | 1,888,000 | 20,066,000 |
| 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 |
| Tallgrass Prairie 5 oz Silver Coin* | 0 | 45,000 | N/A | N/A | 45,000 | 45,000 |
| $1 American Eagle 1 Oz Platinum Coin* | 0 | 0 | 0 | 0 | 0 | 56,500 |
