Gold futures ended lower for a second straight session Wednesday, after notching a 3-1/2 month high on Monday, as U.S. stocks continued to rally and the dollar climbed. Silver, meanwhile, extended its streak of gains to five sessions and logged a 16-week high.
Gold for April delivery declined $3.90, or 0.3%, to settle at $1,250 an ounce on the Comex division of the New York Mercantile Exchange.
"More profit-taking pressure was seen from the shorter-term futures traders after prices Monday hit a 3.5-mongh high," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A big ‘risk-on’ trading day in the world marketplace and some hawkish ‘Fed speak’ were negatives for the safe-haven metal today. A stronger U.S. dollar today was also bearish for the precious metals markets."
Gold futures ranged from a low of $1,237.20 to a high of $1,251.40. They lost 0.4% on Tuesday, but still ended the month of February with a 5.2% increase. On Monday, they rose less than 0.1% to end at their best level since Nov. 10.
Silver for May delivery added 2 cents, or 0.1%, to close at $18.489 an ounce. The settlement is the highest since Nov. 10 when prices ended at $18.737 an ounce. Silver futures traded between $18.27 and $18.51. They surged 5.3% in February.
In other precious metals trading:
April platinum declined $12.10, or 1.2%, to $1,018.90 an ounce, ranging from $1,014.60 to $1,030.20.
- Palladium for June delivery rose $7.30, or 1%, to $779 an ounce, trading between $769.05 and $783.90.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Tuesday PM to Wednesday PM
- Gold declined $15.20, or 1.2%, to $1,240.40 an ounce.
- Silver added 5 cents, or 0.3%, to $18.33 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 were unchanged as of 3:48 p.m. ET. This article will be updated if new figures become available by the end of the day.
Below is a sales breakdown of U.S. 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 / Mar Sales||Last Week||This Week||Feb Sales||2017 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||20,000|
|$50 American Eagle 1 Oz Gold Coin||0||3,000||1,500||21,000||107,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||5,000||24,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||4,000||40,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||15,000||30,000||155,000|
|$50 American Buffalo 1 Oz Gold Coin||0||2,500||500||15,000||47,000|
|$1 American Eagle 1 Oz Silver Coin||0||155,000||450,000||1,215,000||6,342,500|
|2017 Effigy Mounds 5 Oz Silver Coin||0||600||200||19,500||19,500|
|2016 Shawnee 5 Oz Silver Coins*||–|
|2016 Cumberland Gap 5 Oz Silver Coin*||–|
|2016 Harpers Ferry 5 Oz Silver Coin||0||0||0||0|
|2016 Theodore Roosevelt 5 Oz Silver Coin*||–||–|
|2016 Fort Moultrie 5 Oz Silver Coin||0||0||0||0|