Precious metals futures posted increases ranging from 0.9% for silver to 2.3% for platinum
Gold and silver futures extended their gains to three straight days on Wednesday, boosted on dovish read remarks by Federal Reserve Chair Janet Yellen.
Gold for August delivery gained $4.40, or 0.4%, to settle at $1,219.10 an ounce on the Comex division of the New York Mercantile Exchange.
"Federal Reserve Chair Janet Yellen on Wednesday sounded a more dovish tone on U.S. monetary policy. That ‘wrong-footed’ many in the marketplace and was modestly supportive for the gold market," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "After a recent beat-down that dropped prices to a four-month low on Monday, the safe-haven metal was also due for a short-covering and bargain-hunting bounce."
Gold futures ranged from a low of $1,212.50 to a high of $1,225.20. They inched up 0.1% in the previous session and climbed 0.3% in their start to the trading week on Monday. On Friday, they settled at their lowest point since March 15.
Silver for September delivery tacked on 14.2 cents, or 0.9%, to settle at $15.887 an ounce. Silver futures traded between $15.71 and $16. They advanced 0.7% on Tuesday and rose 1.3% on Monday. They closed on Friday at their worst level since April 8, 2016.
In PGM futures on Wednesday:
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October platinum rallied $20.30, or 2.3%, to $919 an ounce, ranging from $902.50 to $924.30.
- Palladium for September added $14.70, or 1.7%, to $861.55 an ounce, trading between $848.25 and $865.70.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold gained $7.75, or 0.6%, to 1,218.80 an ounce.
- Silver jumped 32 cents, or 2.1%, to $15.83 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Sales in 2017
U.S. Mint bullion sales moved up by 1,500 ounces in gold coins and by 300,000 ounces in silver coins. 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 | Last Week | This Week | June | July | YTD | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 20,000 |
| $50 American Eagle 1 Oz Gold Coin | 500 | 1,500 | 5,500 | 4,000 | 7,000 | 148,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 0 | 0 | 27,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 4,000 | 0 | 0 | 4,000 | 52,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 5,000 | 15,000 | 10,000 | 20,000 | 25,000 | 285,000 |
| $50 American Buffalo 1 Oz Gold Coin | 500 | 1,000 | 1,500 | 2,000 | 2,500 | 68,500 |
| $1 American Eagle 1 Oz Silver Coin | 300,000 | 320,000 | 970,000 | 986,000 | 1,290,000 | 13,523,500 |
| 2017 Effigy Mounds 5 Oz Silver Coin | 0 | 0 | 0 | 8,800 | 0 | 35,000 |
| 2017 Frederick Douglass 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 20,000 |
| 2017 Ozark Riverways 5 Oz Silver Coin | 0 | 0 | 0 | 20,000 | 0 | 20,000 |