Gold and silver prices fell Wednesday, closing lower for the first time in four sessions and the only time so far in the new year.
Gold for February delivery declined $8.70, or 0.7%, to settle at $1,210.70 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold prices ended the U.S. day session moderately lower Wednesday, on a profit-taking and technical pullback following gains that took prices to a three-week high on Tuesday," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A sharply higher U.S. dollar index was also a negative outside market force working against the precious metals Wednesday."
Gold prices ranged from a low of $1,209.10 to a high of $1,219.40. They are still up $26.60, or 2.2%, since ending 2014 at $1,184.10 an ounce.
Silver for March delivery shed 9 cents, or 0.6%, to close at $16.54 an ounce. The precious metal traded between $16.30 and $16.64. Silver prices have gained 95 cents, or 6.1%, since previously ending lower on Dec. 31.
In PGM futures on Wednesday:
April platinum dipped 50 cents to $1,220.90 an ounce, trading between $1,214.80 and $1,225.10.
- Palladium for March delivery fell $7.95, or 1%, to $792.45 an ounce, ranging from $785.80 to $804.45.
London Fix Precious Metals
Earlier fixed London precious metals changed modestly. In comparing London bullion Fix prices from Tuesday PM to Wednesday PM:
- Gold added 25 cents to $1,210.50 an ounce,
- Silver rose 4 cents, or 0.3%, to $16.33 an ounce,
- Platinum added $5, or 0.4%, to $1,218 an ounce, and
- Palladium declined $3, or 0.4%, to $795 an ounce.
US Mint Bullion Coin Sales
United States Mint gold sales advanced by 5,000 ounces with splits of 3,000 ounces in American Gold Eagles and 2,000 ounces in American Gold Buffalo coins. On Monday, the Mint released its 2015-dated gold coins. First-day sales more than doubled all of December sales. The Mint’s 2015-dated American Silver Eagles go on sale next Monday.
Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold on Wednesday, last week, this week so far, in December, and last year. Coins with an asterisk (*) have sold out for 2014.
|American Eagle and Buffalo Bullion Sales (# of coins)|
|Wednesday Sales||Last Week||Current Week||December Sales||2014 Sales||January / 2015 Sales|
|$100 American Platinum Eagle Bullion Coins*||0||0||0||0||16,900||0|
|$50 American Eagle Bullion Gold Coins||2,000||0||26,000||13,000||415,500||26,000|
|$25 American Eagle Bullion Gold Coins||1,000||0||13,000||0||46,000||13,000|
|$10 American Eagle Bullion Gold Coins||2,000||0||24,000||6,000||118,000||24,000|
|$5 American Eagle Bullion Gold Coins||0||0||65,000||35,000||565,000||65,000|
|$50 American Buffalo Bullion Gold Coins||2,000||0||18,500||4,500||177,500||18,500|
|$1 American Eagle Silver Bullion Coins*||0||0||0||2.459M||44.006M||0|
|Great Smoky Mountains National Park 5 Oz Silver Bullion Coins*||0||0||0||0||33,000||0|
|Shenandoah National Park 5 Oz Silver Bullion Coins||0||0||0||1,100||24,400||0|
|Arches National Park 5 Oz Silver Bullion Coins*||0||0||0||0||22,000||0|
|Great Sand Dunes 5 Oz Silver Bullion Coins*||0||0||0||4,000||21,900||0|
|Everglades 5 Oz Silver Bullion Coins*||0||0||0||7,000||34,000||0|