Gold and Silver Prices Retreat Slightly

gold bullion
Gold and silver declined slightly Wednesday

Gold and silver futures ended modestly lower on Wednesday, with silver almost flat, as the U.S. dollar continued to exhibit strength.

Gold for December delivery declined $5.10, or 0.5%, to end at $1,085.60 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is struggling to make significant headway against prevailing U.S. dollar strength and the all important technical support at $1,080," MarketWatch quoted Ross Norman, CEO of Sharps Pixley Ltd. in London. "Gold is being dangerously drawn to the $1,080 level rather like a moth to a candle."

Gold prices ranged from a low of $1,082 to a high of $1,091.70. They edged up in the prior session by $1.30 or 0.1%. A week ago Friday, on July 25, gold settled near a 5-1/2-year low at a dime less than today’s close.

Silver for September delivery slipped less than a penny to $14.55 an ounce. Silver prices traded between $14.47 and $14.68. They advanced on Tuesday by 4 cents or 0.3%.

In other precious metals futures on Wednesday:

  • October platinum lost $7.60, or 0.8%, to $950.90 an ounce, ranging from $947.10 to $956.80.

  • Palladium for September delivery shed $5.60, or 0.9%, to $593 an ounce, trading between $590 and $599.45.

London Precious Metals Prices

Earlier fixed London gold and silver prices declined as well. In comparing London bullion prices from Tuesday PM to Wednesday PM:

  • Gold fell $5.55, or 0.5%, to $1,085.10 an ounce.
  • Silver dipped 2 cents, or 0.1%, to $14.52 an ounce.

LBMA platinum and palladium prices are displayed on the LBMA’s website with a delay of midnight after the setting of the prices each day.

US Mint Bullion Coin Sales in August

United States Mint bullion sales were unchanged Wednesday as of 3:40 p.m. Eastern Time. Below is a listing of U.S. Mint bullion products with the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Wednesday Sales Last Week This Week/Aug Sales July Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 0 22,000 1,500 144,500 344,500
$25 American Eagle 1/2 Oz Gold Coins 0 3,000 0 10,000 46,000
$10 American Eagle 1/4 Oz Gold Coins 0 6,000 2,000 28,000 100,000
$5 American Eagle 1/10 Oz Gold Coins 0 20,000 0 135,000 525,000
$50 American Buffalo 1 Oz Gold Coins 0 6,500 500 32,000 129,000
$1 American Eagle 1 Oz Silver Coins 0 2,820,000 1,057,000 5,529,000 28,372,000
2015 Homestead 5 Oz Silver Coins* 35,000
2015 Kisatchie 5 Oz Silver Coins* 42,000
2015 Blue Ridge Parkway 5 Oz Silver Coins* 0 2,400 0 10,000 45,000


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Danny Morano

Mr.Unser, I apologize to yoi and all otherd for some remarks I made in some of my blogs. It will not happen again. I received my $100.00 Gold Liberty and my Proof Jackie Kennedy coins today and while I am no appraiser, I looked at each until I was getting a headache. Both to me looked absolutely perfect and I will have them graded by NGC. One question, I bought and paid for the Liberty within 10 minutes of Noon on the 30th. On the Mints receipt the date is the 31st. How is NGC going to know it was… Read more »

john k

I read the NGC guidelines for submission it states that” Please note that First Day Of Issue designation is available for bulk submissions only” I paid for 2 day delivery..took six days to get it