Gold, Silver Rise Slightly As Dollar Weakens

Gold Bullion and US Money
Gold and silver prices rose modestly. US Mint bullion coin sales levels were unchanged.

Gold futures edged higher Wednesday, though missed a return to $1,400 an ounce after closing above and then below the level on a daily basis since Thursday.

Gold for August delivery inched up $1.30, or less than 0.1%, to settle at $1,398.50 an ounce on the Comex in New York. Prices moved through intraday levels of $1,395.10 and $1,410.30.

"Comex gold futures prices ended a quieter U.S. day session with modest gains Wednesday. Some weak U.S. economic data pressured the greenback and in turn helped push gold prices a bit north," said Jim Wyckoff, a senior analyst at Kitco Inc, in a daily note.

"Traders and investors are more eagerly awaiting major monthly data when the European Central Bank holds its monthly meeting on Thursday, followed by Friday’s U.S. employment report."

Gold prices fell declined $14.70, or 1.0%, on Tuesday.

Silver for July delivery inched up 6.3 cents, or 0.3% to $22.472 an ounce, ranging from $22.29 to $22.74. In the previous session, silver shed 31.2 cents, or 1.4%.

In PGM futures:

  • July platinum jumped $19.50, or 1.3%, to $1,510.60 an ounce, trading between $1,489.10 and $1,514.00.

  • Palladium for September delivery gained $5.40, or 0.7%, to $756.45 an ounce, ranging from $751.70 to $760.35.

In the prior session, platinum fell 0.4% and palladium declined 1.1%.

London Fix Precious Metals

London precious metals fixings split again Wednesday. All but silver advanced as compared to Tuesday when silver was alone with a loss. In contrasting the Tuesday PM to Wednesday PM London Fix prices:

  • Gold added $4.50, or 0.3%, to $1,404.00 an ounce,
  • Silver dipped 14.0 cents, or 0.6%, to $22.37 an ounce,
  • Platinum gained $17.00, or 1.1%, to $1,503.00 an ounce, and
  • Palladium rose $3.00, or 0.4%, to $754.00 an ounce

US Bullion Coin Sales in June

Sales levels were unchanged for U.S. Mint bullion coins as of 3:49 PM ET. The following are daily, June and year-to-date bullion coin totals as published by the United States Mint.

American Eagle and Buffalo Bullion Coin Sales
  Wednesday Sales Last Week Week-To-Date / June YTD Sales
$50 American Eagle Gold Bullion Coins 0 11,500 10,000 505,500
$25 American Eagle Gold Bullion Coins 0 0 0 42,000
$10 American Eagle Gold Bullion Coins 0 2,000 0 78,000
$5 American Eagle Gold Bullion Coins 0 60,000 20,000 380,000
$50 American Buffalo Gold Bullion Coins 0 1,500 3,000 147,500
White Mountain 5 oz. Silver Bullion Coins 0 2,500 0 25,800
Perry’s Victory 5 oz. Silver Bullion Coins 0 0 8,000 8,000
American Silver Eagle Bullion Coins 0 858,500 782,000 22,550,500


Figures above are in the number of coins sold, not in ounces.

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