Precious Metals Rebound, Gold Rises 0.3%

by CoinNews.net on August 16, 2017 · 0 comments

Bullion gold bars and US $100s.

Precious metals futures ended higher Wednesday, Aug. 16

Precious metals futures advanced Wednesday with gains ranging from 0.7% for platinum to 2% for palladium.

Gold for December delivery climbed $3.20, or 0.3%, to settle at $1,282.90 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices were moderately higher in early-afternoon U.S. trading Wednesday. Early losses were erased as bargain hunters ‘bought the dip’ that had occurred this week," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A slightly bullish FOMC minutes report also gave the gold and silver markets a lift."

Gold futures traded from a low of $1,273.20 to a high of $1,286.10. They slipped 0.8% in the previous session and declined 0.3% in their start to the week on Monday.

Silver for September delivery tacked on 22.6 cents, or 1.4%, to settle at $16.94 an ounce. Silver futures ranged from $16.61 to $16.94. They sank 2.4% on Tuesday and gained 0.3% in the previous session to settle at their best level since June 14.

In PGM futures on Wednesday:

  • October platinum added $7.10 to $974.50 an ounce, trading between $963.80 and $984.40.

  • Palladium for September delivery jumped $18.15 to $910.20 an ounce, ranging from $885.90 to $917.20.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:

  • Gold gained $2.45, or 0.2%, to 1,272.75 an ounce.
  • Silver dropped 21 cents, or 1.2%, to $16.68 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

United States Mint bullion sales were unchanged as of 3:47 p.m. ET. 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 July August YTD
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 0 4,500 0 13,500 4,500 160,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 0 1,000 28,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 4,000 0 52,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 30,000 0 290,000
$50 American Buffalo 1 Oz Gold Coin 0 2,000 0 6,000 2,000 74,000
$1 American Eagle 1 Oz Silver Coin 0 110,000 125,000 2,320,000 235,000 14,788,500
2017 Effigy Mounds 5 Oz Silver Coin 0 0 0 0 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 0 0 20,000

 

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