Most precious metals futures turned higher Wednesday after dropping in tandem on Tuesday.
Gold for December delivery settled up $6.70, or 0.6%, to $1,131.50 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices traded from a low of $1,121.10 to a high of $1,134.
"Gold prices ended the U.S. day session modestly higher Wednesday, on a short-covering bounce in the futures market and some bargain hunting in the cash, following the selling pressure seen on Monday and Tuesday," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
Gold’s prior higher settlement happened on Friday when prices surged 1.9% to post a 3.1% weekly gain.
Climbing for the fifth time in six sessions, silver for December delivery added 3 cents, or 0.2%, to settle at $14.79 an ounce. Silver prices ranged from $14.69 to $14.91. They plunged on Tuesday by 47 cents or 3.1%.
In PGM futures on Wednesday:
October platinum turned down $5.10, or 0.5%, to $932.40 an ounce, trading between $925.80 and $947.20.
- Palladium for December delivery tacked on $34.75, or 5.7%, to $645.70 an ounce, ranging from $606.90 to $651.
London Precious Metals Prices
Earlier fixed London gold and silver prices were mixed. In comparing their prices from Tuesday PM to Wednesday PM:
- Gold added $8.45, or 0.8%, to $1,131.35 an ounce.
- Silver fell 14 cents, or 0.9%, to $14.80 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Coin Sales in September
United States Mint bullion sales were unchanged Wednesday as of 3:19 p.m. Below is a listing of United States 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||August Sales||Sept Sales||YTD Sales|
|$50 American Eagle 1 Oz Gold Coins||0||35,500||12,000||78,500||88,500||510,000|
|$25 American Eagle 1/2 Oz Gold Coins||0||3,000||1,000||8,000||7,000||61,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||8,000||4,000||24,000||16,000||138,000|
|$5 American Eagle 1/10 Oz Gold Coins||0||40,000||30,000||130,000||140,000||795,000|
|$50 American Buffalo 1 Oz Gold Coins||0||6,500||3,000||20,000||19,500||168,000|
|$1 American Eagle 1 Oz Silver Coins||–||809,500||750,000||4,935,000||2,804,500||35,054,500|
|2015 Homestead 5 Oz Silver Coins*||–||35,000|
|2015 Kisatchie 5 Oz Silver Coins*||–||42,000|
|2015 Blue Ridge Parkway 5 Oz Silver Coins*||–||45,000|