Gold and Silver Snap Long Winning Streaks


Two gold bullion bars

In relatively thin volume and within a narrow trading range, gold futures on Wednesday settled lower for the first time in ten sessions.

Gold for April delivery shed $4, or 0.3%, to settle at $1,320.40 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices ended the U.S. day session moderately lower Wednesday, on some more profit taking and a corrective technical pullback from recent gains that saw prices hit a 3.5-month high Tuesday," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily note. "The gold and silver market bulls still have the near-term technical advantage."

Gold traded from a low of $1,314 to a high of $1,323.

Snapping a winning streak of eleven straight sessions, silver for March delivery lost 5 cents, or 0.2%, to close at $21.85 an ounce. Silver prices ranged from $21.62 to $21.96.

In PGM future prices on Wednesday:

  • April platinum ended flat at $1,424.50 an ounce, trading between $1,412.30 and $1,429.80.

  • Down for a second session, palladium for March delivery fell $1.75, or 0.2%, to $735.40 an ounce. It ranged from $733 to $739.95.

London Fix Precious Metals

London precious metals mixed it up. In contrasting London fix prices from Tuesday PM to Wednesday PM:

  • Gold slipped 25 cents to $1,320.50 an ounce,
  • Silver added 38 cents, or 1.8%, to $21.75 an ounce,
  • Platinum was flat at $1,424 an ounce, and
  • Palladium climbed $2, or 0.3%, to $738 an ounce

US Mint Bullion Coin Sales in February

Sales totals for United States Mint bullion coins remained unchanged Wednesday as of 3:57 p.m. EST. Below is a current sales breakdown across all the U.S. Mint bullion products.

American Eagle and Buffalo Bullion Sales (# of coins)
Week-To-Date Sales Sales Last Week Feb Sales YTD Sales
$50 American Eagle Gold Bullion Coins 2,000 5,000 9,000 71,500
$25 American Eagle Gold Bullion Coins 0 0 2,000 14,000
$10 American Eagle Gold Bullion Coins 0 0 8,000 36,000
$5 American Eagle Gold Bullion Coins 0 20,000 30,000 190,000
$50 American Buffalo Gold Bullion Coins 1,000 4,500 10,500 52,000
American Eagle Silver Bullion Coins 654,500 900,000 2,404,500 7,179,500


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