Gold, silver and platinum futures gained Wednesday while palladium declined. Gold’s gain was the first in four sessions.
Gold for December delivery tacked on $8.20, or 0.6%, to settle at $1,495.70 an ounce on the Comex division of the New York Mercantile Exchange.
"The bulls have the overall near-term technical advantage but a seven-week-old downtrend is still in place on the daily bar chart," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note. "Gold bulls’ next upside near-term price breakout objective is to produce a close above solid technical resistance at $1,525.00. Bears’ next near-term downside price breakout objective is pushing prices below solid technical support at the October low of $1,465.00."
Gold futures ranged from a low of $1,490.70 to a high of $1,499.40. They dipped 0.04% on Tuesday and they declined 0.4% on Monday.
Silver for December delivery rose 8 cents, or 0.5%, to settle at $17.58 an ounce. Silver futures traded between $17.51 and $17.63. They slipped 0.6% on Tuesday and they rose 0.1% on Monday.
In PGM futures on Wednesday:
-
January platinum jumped $26.40, or 3%, to $922.40 an ounce, ranging from $894 to $924.
- Palladium for December delivery declined $13.90, or 0.8%, to $1,714.60 an ounce, trading between $1,703 and $1,734.60. Last Wednesday, they scored a record settlement of $1,735 an ounce.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold added $9.10, or 0.6%, to $1,494.45 an ounce.
- Silver fell 9 cents, or 0.5%, to $17.535 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint 2019 Bullion Sales
United States Mint bullion sales were unchanged. 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 | September | October | 2019 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 4,500 | 3,500 | 8,000 | 98,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 1,000 | 1,000 | 25,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 2,000 | 4,000 | 34,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 10,000 | 20,000 | 190,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 3,000 | 2,500 | 3,000 | 55,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 408,500 | 1,021,000 | 943,500 | 14,233,500 |
| San Antonio Missions 5 Oz Silver Coin | 0 | 500 | 37,700 | 17,500 | 55,200 |
| War in the Pacific 5 Oz Silver Coin | 0 | 0 | 2,500 | 500 | 72,500 |
| American Memorial Park 5 Oz Silver Coin* | 0 | 0 | 0 | 0 | 80,000 |
| Lowell 5 Oz Silver Coin* | N/A | 80,000 | |||
| $100 American Eagle 1 Oz Platinum Coin* | N/A | 40,000 | |||
