Gold, silver and platinum rebounded Wednesday while palladium rose for a fourth straight session. Advances came as the U.S. dollar weakened and ahead of the monthly jobs report due Friday.
Gold for December delivery climbed $9.70, or 0.7%, to settle at $1,317.80 an ounce on the Comex division of the New York Mercantile Exchange. Gold traded from a low of $1,308.90 to a high of $1,322.
"The relative weakening of the dollar is giving some support today but … if the non-farm payrolls come in better than expected on Friday, then we could see gold lose that support," Reuters quoted Mitsubishi analyst Jonathan Butler.
Snapping a four-session losing streak, silver for December delivery added 13 cents, or 0.6%, to finish at $21.77 an ounce. Prices ranged from $21.62 to $22.08.
In PGM’s on Wednesday:
January platinum gained $17.40, or 1.2%, to $1,467.40 an ounce, trading between $1,450 and $1,469.90.
- Palladium for December delivery surged $14.05, or 1.9%, to $764.35 an ounce, ranging from $749.50 to $765.
London Fix Precious Metals
London precious metal fixings advanced as well. In contrasting Tuesday PM to Wednesday PM London fix prices:
- Gold gained $11.75, or 0.9%, to $1,319 an ounce,
- Silver rose 34 cents, or 1.6%, to $21.94 an ounce,
- Platinum added $14, or 1%, to $1,465 an ounce, and
- Palladium advanced $13, or 1.7%, to $758 an ounce
US Mint Bullion Sales in November
Sales totals for U.S. Mint bullion coins were unchanged Wednesday but Silver Eagles did advance after the CoinNews.net bullion article on Tuesday. The silver bullion coins jumped 500,000 for a new year-to-date total of 39,175,000, or 193,501 away from topping the annual record set in 2011.
The latest daily, November and year-to-date United States Mint bullion sales figures are listed below.
|American Eagle and Buffalo Bullion Sales (# of coins)|
|Wednesday Sales||Last Week||Week-To-Date Sales||November Sales||YTD Sales|
|$50 American Gold Eagle Bullion Coins||0||10,500||5,500||8,500||654,500|
|$25 American Gold Eagle Bullion Coins||0||0||0||0||56,000|
|$10 American Gold Eagle Bullion Coins||0||0||0||0||114,000|
|$5 American Gold Eagle Bullion Coins||0||5,000||0||0||500,000|
|$50 American Buffalo Gold Bullion Coins||0||3,000||500||500||218,500|
|White Mountain 5 oz. Silver Bullion Coins||Sold Out||35,000|
|Perry’s Victory 5 oz. Silver Bullion Coins||0||0||0||0||26,200|
|Great Basin 5 oz. Silver Bullion Coins||0||0||0||0||27,200|
|Fort McHenry 5 oz. Silver Bullion Coins||0||600||1,000||1,000||29,200|
|Mount Rushmore 5 oz. Silver Bullion Coins||0||0||6,000||6,000||6,000|
|American Silver Eagle Bullion Coins||0||701,000||500,000||500,000||39,675,000|