Gold futures rose slightly in their start to the new trading week on Monday, while silver, platinum and palladium declined. Gold’s gain was its fifth in six sessions.
Gold for December delivery inched up 50 cents, or 0.03%, to close at $1,905.70 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold has been trapped between $1,930 – $1,880. It is waiting to take cues from the election and there’s this resurgence of the pandemic," Reuters quoted Phillip Streible, chief market strategist at Blue Line Futures in Chicago. "But the dollar index is up today, (and) has a strong inverse correlation to gold," he added.
Gold futures ranged from a low of $1,892.50 to a high of $1,908.80. They edged 0.06% lower last week.
Silver for December delivery fell 25.5 cents, or 1%, to settle at $24.42. Silver futures traded between $24.14 and $24.77. They moved ahead 1.1% last week.
In other precious metals futures prices on Monday:
-
January platinum settled down $29.30, or 3.2%, to $877.40 an ounce, ranging from $870.80 to $911.
- Palladium for December delivery gave back $29.90, or 1.3%, to $2,368.70 an ounce, trading between $2,368 and $2,406.90.
Last week platinum gained 4.3% and palladium rose 2.4%.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM:
- Gold shed $5.20, or 0.3%, to $1,898.45 an ounce.
- Silver dropped 48 cents, or 1.9%, to $24.28 an ounce.
In LBMA results last week, prices declined 0.07% for gold while they advanced 1.6% for silver, 5.4% for platinum and 2.7% 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 | August | September | October | 2020 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 7,000 | 104,000 | 18,500 | 46,500 | 604,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 2,000 | 10,000 | 3,000 | 5,000 | 63,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 20,000 | 4,000 | 4,000 | 92,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 70,000 | 10,000 | 10,000 | 300,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 1,000 | 28,000 | 4,500 | 14,500 | 203,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 761,000 | 4,477,000 | 2,958,500 | 2,460,000 | 23,596,500 |
| 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 | 0 | 0 | 0 | 45,000 |
| Tallgrass Prairie 5 oz Silver Coin* | 0 | 0 | N/A | 45,000 | 0 | 45,000 |
| $1 American Eagle 1 Oz Platinum Coin* | 0 | 0 | 0 | 0 | 0 | 56,500 |
