Silver Eagle Coins Sales Recover
Cassie Bastien
10/23/2017 10:49:36 AM
Daily Gold & Silver Market Report – 10/23/2017
According to an article by Numismatic News, Silver American Eagle bullion coin sales in the first half of October already surpassed the September monthly sales total. In fact, as of October 18, the U.S. Mint sold 750,000 to authorized coin dealers and purchasers, well ahead of the 320,000 coins sold in September. With a little over two weeks to go, August's Silver Eagle sales of more than 1 million coins looks within reach.
Gold Charts Hit 2-Week Lows
“Expectations that Japan's ultra-loose monetary policy would stay in place after Prime Minister Shinzo Abe's election victory at the weekend lifted the [U.S.] dollar to a three-month high versus the [Japanese] yen,” according to a report by Reuters and CNBC. As a result, the price of Gold hit a two-week low early Monday. Interest in safe-haven assets was also curbed by excitement surrounding the stock market. “(Gold) is just following what the dollar is doing,” Natixis Analyst Bernard Dahdah said. “People are also getting more excited about the stock markets, and that removes a bit of business from Gold.” The Reuters report reads, “Financial markets are now awaiting guidance on who will succeed Federal Reserve Chair Janet Yellen when her term expires in February. U.S. President Donald Trump is considering nominating Fed Governor Jerome Powell and Stanford University Economist John Taylor for the central bank's top two jobs.” In other Precious Metals, Silver prices dropped 0.4 percent to below $17 an ounce, Platinum dropped 0.8 percent and Palladium dropped 1.4 percent.
At 11:49 a.m. (ET), the APMEX Precious Metals spot prices were:
- Gold, $1,277.10 Down $4.50
- Silver, $16.99 Down $0.16
- Platinum, $920.30 Down $6.50
- Palladium, $963.80 Down $14.10
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APMEX Market Reports provide our readers with a review of spot price activity and some of the factors that may be affecting the market for Precious Metals. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The Market Reports are not intended as a comprehensive discussion and there may be other factors affecting the financial marketplace. These Market Reports are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, purchase or sell any Precious Metal product. All orders, purchases and sales, if any, are subject to the terms of the User Agreement and other applicable policies
