Gold prices edged higher Wednesday, gaining for the sixth straight session and closing at another 10-week high.
Gold for August delivery rose $1.30, or 0.1%, to finish at $1,322.60 an ounce on the Comex division of the New York Mercantile Exchange. The closing price is the highest since April 14 when gold settled at $1,327.60 an ounce. Gains on Wednesday were attributed to safe-haven demand and a weaker U.S. dollar.
"The dollar weakness is keeping gold supported," Phil Streible, a senior commodity broker at R.J. O’Brien & Associates in Chicago, said in a telephone interview according to Bloomberg News. "There is also some safe-haven buying because of Iraq."
Gold prices traded from a low of $1,305.40 to a high of $1,325.60. In addition to the current streak, gold has climbed in 12 of 13 sessions.
Silver rose for a second consecutive day and has advanced in 12 of the last 13 sessions. Silver for July delivery added 7 cents, or 0.4%, to $21.12 an ounce, ranging from $20.71 to $21.17.
In rounding out the precious metals complex:
July platinum added $1.30, or 0.1%, to $1,473.20 an ounce, trading between $1,454.80 and $1,477.70.
- Palladium for September delivery rose $2.85, or 0.3%, to $833.25 an ounce, ranging from $822.30 to $834.75.
London Fix Precious Metals
Earlier fixed London precious metals declined. In contrasting London bullion fix prices from Tuesday PM to Wednesday PM:
- Gold lost $1.75, or 0.1%, to $1,316.75 an ounce,
- Silver fell 34 cents, or 1.6%, to $20.78 an ounce,
- Platinum dropped $10, or 0.7%, to $1,459 an ounce, and
- Palladium shed $2, or 0.2%, to $826 an ounce
US Mint Bullion Sales in June
United States Mint bullion sales were unchanged as of 2:56 p.m. ET. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold last week, this week so far, last month, the month-to-date, and the year-to-date.
|American Eagle and Buffalo Bullion Sales (# of coins)|
|Wednesday Sales||Sales Last Week Sales||Week-To-Date Sales||May Sales||June Sales||YTD Sales|
|$100 American Platinum Eagle Bullion Coins||0||0||0||1,000||700||12,900|
|$50 American Gold Eagle Bullion Coins||0||11,500||3,500||29,000||32,500||188,000|
|$25 American Gold Eagle Bullion Coins||0||0||0||3,000||0||25,000|
|$10 American Gold Eagle Bullion Coins||0||2,000||0||6,000||2,000||70,000|
|$5 American Gold Eagle Bullion Coins||0||5,000||0||35,000||20,000||345,000|
|$50 American Buffalo Gold Bullion Coins||0||6,500||0||12,500||12,000||107,500|
|$1 American Eagle Silver Bullion Coins||0||580,000||0||3,988,500||1,925,000||23,361,500|
|Great Smoky Mountains National Park 5 Oz Silver Bullion Coins||0||0||1,000||4,000||2,000||29,000|
|Shenandoah National Park 5 Oz Silver Bullion Coins||0||0||400||19,500||900||20,000|
|Arches National Park 5 Oz Silver Bullion Coins||0||2,800||2,000||N/A||18,300||18,300|