Precious metals futures posted gains in normal trading Wednesday, then gave them and more back in after-hours trade when the Fed released its latest policy statement.
Gold for February delivery added $4.70, or 0.4%, to settle at $1,163.70 an ounce on the Comex division of the New York Mercantile Exchange. In electronic trading after the Fed news, however, gold prices fell toward $1,144 — their lowest point since early February.
"Gold prices softened on expectations for further Fed rate increases, a stronger U.S. dollar and rising U.S. interest rates," MarketWatch quoted Rob Haworth, senior investment strategist at U.S. Bank Wealth Management.
After its two-day meeting ended Wednesday, the Fed raised interest rates by a quarter point and signaled quicker increases next year.
Gold futures slipped 0.6% on Tuesday, ending at their lowest level since Feb. 5, after edging up 0.3% on Monday.
Meanwhile, silver for March delivery tacked on 24.4 cents, or 1.4%, to settle at $17.221 an ounce. Silver futures traded between $16.94 and $17.29. The precious metal was last near $16.88 an ounce in after-hours trading. Silver fell 1.2% on Tuesday after rising 1.3% on Monday.
In PGM futures on Wednesday:
-
January platinum rose $4.10, or 0.4%, to $940.80 an ounce, ranging from $928.30 to $948.50.
- Palladium for March delivery rose $1.95, or 0.3%, to $732.55 an ounce, trading between $726.20 and $734.20.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Tuesday PM to Wednesday PM:
- Gold added $3.70, or 0.3%, to $1,162.25 an ounce.
- Silver added a dime, or 0.6%, to $17.11 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Coin Sales in 2016
United States Mint bullion sales were unchanged Wednesday. The agency’s most popular 2016-dated bullion coins have already sold out. New 2017-dated issues will go on sale Jan. 9.
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) | ||||||
|---|---|---|---|---|---|---|
| Wednesday Sales | Last Week | This Week | Nov Sales | Dec Sales | 2016 Sales | |
| $100 American Eagle 1 Oz Platinum Coins* | – | 20,000 | ||||
| $50 American Eagle 1 Oz Gold Coins* | – | 23,000 | – | 129,000 | 23,000 | 817,500 |
| $25 American Eagle 1/2 Oz Gold Coins | 0 | 2,000 | 1,000 | 7,000 | 3,000 | 74,000 |
| $10 American Eagle 1/4 Oz Gold Coins* | – | 2,000 | – | 18,000 | 2,000 | 152,000 |
| $5 American Eagle 1/10 Oz Gold Coins* | – | 40,000 | – | 105,000 | 40,000 | 925,000 |
| $50 American Buffalo 1 Oz Gold Coins | 0 | 5,500 | 1,500 | 29,500 | 7,000 | 214,000 |
| $1 American Eagle 1 Oz Silver Coins* | – | 240,000 | – | 3,061,000 | 240,000 | 37,701,500 |
| 2016 Shawnee 5 Oz Silver Coins* | – | 105,000 | ||||
| 2016 Cumberland Gap 5 Oz Silver Coins* | – | 75,000 | ||||
| 2016 Harpers Ferry 5 Oz Silver Coins | 0 | 100 | 0 | 1,500 | 100 | 38,100 |
| 2016 Theodore Roosevelt 5 Oz Silver Coins* | – | 800 | – | 6,600 | 800 | 40,000 |
| 2016 Fort Moultrie 5 Oz Silver Coins | 0 | 0 | 0 | 27,800 | 0 | 27,800 |
I am a gold bug…BUT I have something saved & the Fed has been awful with rate$ they need to go up, IF you are lucky to have sav some $ you shoulkd get mnore than .o1%, heck as a kid in the ‘6o’s I got 4-5%, $ doubled in 9 years….now it doubles when Mr. Spock visits Earth! AU/AG may fall @ 1st but that lovely INFLATION will return–> You know there is none ! And hey that’s only a cold sore….
Jp –
You guessed right. Gold is now under $1150 in afterhours trading at $1142.
The Mint hasn’t sold a single silver or gold bullion version coin in two days now! They have 2 different gold bullion coins & 2 different silver bullion coins available right now, but no buyers!
-NumisDudeTX
May the gold & silver prices keep falling and the TV hawkers eat their over-priced inventory.
Yeah, gentlemen, Gold is trading after hours at 1139 right now. I think there will be a short spike then drop again to 1100-11teens. Maybe bottom out there? I like gold, but it’s too pricey for me to buy to make any real money on. I think a person could make a killing on it though day trading. Or lose your A$$! Whistler, your right about % rates. I see some CU’s (mostly) starting to come up on 1 yr rates, but 4-5% would look very good right now. That would really mess with the stock market. I think the… Read more »
Gold is definitely a better buy right now over silver. Sometimes in this game you need to take risk…not for me right now lol i am a fan of capitalism but the prices of bullion over spot are ridiculous right now.