Precious metals advanced in tandem for a second day in a row Wednesday. Gold futures drove to a more than 3-week high as the U.S. dollar softened.
Gold for February delivery added $3.30, or 0.3%, to finish at $1,165.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Dec. 12.
"The dollar index has consolidated and the big outflow from exchange-traded products (ETPs), which has been the biggest headwind for gold in the past few months, has stopped recently," Reuters quoted Julius Baer analyst Carsten Menke.
Gold futures ranged from a low of $1,156.70 to a high of $1,168.60. They rose 0.9% in their start Tuesday to the holiday-shortened trading week.
Rising for the fifth time in six sessions, silver for March delivery added 14.3 cents, or 0.9%, to $16.552 an ounce. The settlement is the highest since Dec. 14. Silver futures traded between $16.30 and $16.57. In the previous session, they moved up 2.6%.
In PGM futures Wednesday:
April platinum gained $3, or 0.3%, to $947.20 an ounce, ranging from $928.40 to $953.60.
- Palladium for March delivery jumped $28.90, or 4.1%, to $738.80 an ounce, trading between $708.30 and $744.15. The precious metal is 8.1% higher so far this week.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Tuesday PM to Wednesday PM:
- Gold gained $13.25, or 1.2%, to $1,164.25 an ounce.
- Silver surged 47 cents, or 3%, to $16.42 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 2017
U.S. Mint bullion sales will take off next Monday, Jan. 9, when new 2017-dated coins become available. Most of the agency’s 2016-dated issues sold out in early December.
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 / This Week||Last Week||Dec Sales||2016 Sales||2017 Sales|
|$50 American Eagle 1 Oz Gold Coins*||–||23,000||817,500||0|
|$25 American Eagle 1/2 Oz Gold Coins||0||3,000||74,000||0|
|$10 American Eagle 1/4 Oz Gold Coins*||–||2,000||152,000||0|
|$5 American Eagle 1/10 Oz Gold Coins*||–||40,000||925,000||0|
|$50 American Buffalo 1 Oz Gold Coins||0||12,500||219,500||0|
|$1 American Eagle 1 Oz Silver Coins*||–||240,000||37,701,500||0|
|2016 Shawnee 5 Oz Silver Coins*||–||105,000||0|
|2016 Cumberland Gap 5 Oz Silver Coins*||–||75,000||0|
|2016 Harpers Ferry 5 Oz Silver Coins||0||100||38,100||0|
|2016 Theodore Roosevelt 5 Oz Silver Coins*||–||800||40,000||0|
|2016 Fort Moultrie 5 Oz Silver Coins||0||0||27,800||0|