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|