Gold and silver futures closed higher Wednesday, with the former marking their best close in nearly three weeks.
Gold for April delivery moved up $11, or 0.9%, to settle at $1,241.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Feb. 11 when gold closed at $1,247.80 an ounce.
"Weak data globally is adding to concerns over a slowdown and that is helping gold," Reuters quoted a bullion trader in Hong Kong.
Gold prices ranged from a low of $1,225.10 to a high of $1,244.80 after slipping 0.3% in the prior session.
Silver for May delivery tacked on 26.6 cents, or 1.8%, to finish at $15.022 an ounce — the highest settlement since Feb. 25. Silver prices traded between $14.77 and $15.05. They lost 1.1% on Tuesday.
In PGM futures on Wednesday:
April platinum dipped 50 cents, or less than 0.1%, to $936.20 an ounce, ranging from $931.60 to $942.60.
- Palladium for June delivery declined $2.05, or 0.4%, to $515.30 an ounce, trading between $509.55 and $522.25.
London Precious Metals Prices
Earlier fixed London gold and silver prices were mixed. In comparing their levels from Tuesday PM to Wednesday PM:
- Gold added $2.70, or 0.2%, to $1,239.20 an ounce.
- Silver fell 17 cents, or 1.1%, to $14.82 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Sales in 2016
United States Mint bullion sales were unchanged for a second straight day following solid gains on Monday. Below is a sales breakdown of United States Mint bullion products with columns listing the number of bullion coins sold during varying periods of time.
|US Mint Bullion Sales (# of coins)|
|Wednesday Sales||Last Week||This Week||Jan Sales||Feb Sales||Mar Sales||2016 Sales|
|$50 American Eagle 1 Oz Gold Coins||0||6,000||9,000||89,000||67,500||0||156,500|
|$25 American Eagle 1/2 Oz Gold Coins||0||1,000||0||23,000||6,000||0||29,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||2,000||2,000||36,000||12,000||0||48,000|
|$5 American Eagle 1/10 Oz Gold Coins||0||25,000||25,000||145,000||100,000||0||245,000|
|$50 American Buffalo 1 Oz Gold Coins||0||4,500||2,000||34,000||19,000||0||53,000|
|$1 American Eagle 1 Oz Silver Coins||0||1,073,500||736,500||5,954,500||4,782,000||0||10,736,500|
|2016 Shawnee 5 Oz Silver Coins||0||30,000||0||N/A||105,000||0||105,000|