Gold, Silver Little Changed in Pre-Holiday Trading

10 Oz Fine Gold Bar
Gold and silver were little changed Wednesday

Most precious metals posted only modest changes in pre-holiday trading Wednesday. Markets in the U.S. are closed Thursday for the Thanksgiving holiday but they re-open on Friday.

Gold for December delivery dipped $3.80, or 0.4%, to settle at $1,070 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices ended a quieter U.S. day session modestly lower, pressured by bearish outside markets on this day that saw the U.S. dollar index higher and hit a seven-month high," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A ‘risk-on’ trading day in the marketplace also worked against the safe-haven gold market."

Gold prices traded from a low of $1,068.20 to a high of $1,080.40. They rose 0.7% on Tuesday and closed at a near 6-year low on Monday.

Virtually unchanged, silver for December delivery fell one-tenth of a penny to settle at $14.16 an ounce. Silver prices ranged from $14 to $14.24. They advanced 0.9% on Tuesday and ended at a more than 6-year low on Monday.

In PGM futures on Wednesday:

  • January platinum added $2.20, or 0.3%, to $843.90 an ounce, trading between $836 and $849.60.

  • Palladium for December delivery gained $9.80, or 1.8%, to $551.30 an ounce, ranging from $534.70 to $543.60.

London Precious Metals Prices

Earlier fixed London gold and silver prices also declined. In comparing their levels from Tuesday PM to Wednesday PM:

  • Gold fell $8.40, or 0.8%, to $1,068 an ounce.
  • Silver lost 7 cents, or 0.5%, to $14.07 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint Bullion Coin Sales

United States Mint bullion sales were unchanged Wednesday following two strong days of gains. 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 Oct Sales Nov Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins* N/A 39,000 16,000 26,000 80,500 626,500
$25 American Eagle 1/2 Oz Gold Coins 0 6,000 0 4,000 7,000 74,000
$10 American Eagle 1/4 Oz Gold Coins* N/A N/A N/A 4,000 12,000 158,000
$5 American Eagle 1/10 Oz Gold Coins* N/A 55,000 N/A 50,000 100,000 980,000
$50 American Buffalo 1 Oz Gold Coins* 0 9,000 12,000 10,500 29,000 210,000
$1 American Eagle 1 Oz Silver Coins 0 900,000 922,000 3,788,000 4,009,000 43,851,500
2015 Homestead 5 Oz Silver Coins* N/A 35,000
2015 Kisatchie 5 Oz Silver Coins* 42,000
2015 Blue Ridge Parkway 5 Oz Silver Coins* 45,000
2015 Bombay Hook 5 Oz Silver Coins* 45,000
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