Precious metals futures inched higher in the mid-week trading session Wednesday. Gains in gold and silver were a first in six sessions.
Gold for December delivery added $2.40, or 0.2%, to settle at $1,326.10 an ounce on the Comex division of the New York Mercantile Exchange. Gold’s increase was attributed to a weakened U.S. dollar.
"There was some very volatile, algorithm driven price action today in the gold market, with the metal carving out an $8 range on moderate-to-good volume," Reuters quoted Alex Thorndike, senior precious metals dealer with MKS PAMP Group.
Gold futures ranged from a low of $1,316.60 to a high of $1,329.80. In the previous session, they closed at their lowest level since Sept. 1.
Elsewhere, silver for December delivery gained 9.1 cents, or 0.5%, to end at $19.066 an ounce. Silver futures traded between $18.84 and $19.18.
In PGM futures on Wednesday:
October platinum rose $4.90, or 0.5%, to $1,040.90 an ounce, ranging from $1,034.20 to $1,048.80.
- Palladium for December delivery edged up 40 cents, or less than 0.1%, to $656.50 an ounce, trading between $652.50 and $663.60.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Tuesday PM to Wednesday PM:
- Gold declined $1.90, or 0.1%, to $1,321.75 an ounce.
- Silver fell 12 cents, or 0.6%, to $19.04 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 2016
United Sates Mint bullion sales were unchanged Wednesday as of 3:51 p.m. ET. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion 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||Sept Sales||2016 Sales|
|$100 American Eagle 1 Oz Platinum Coins*||0||0||0||1,000||0||20,000|
|$50 American Eagle 1 Oz Gold Coins||0||14,500||4,500||50,000||24,000||510,000|
|$25 American Eagle 1/2 Oz Gold Coins||0||1,000||0||3,000||2,000||53,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||6,000||0||4,000||6,000||106,000|
|$5 American Eagle 1/10 Oz Gold Coins||0||20,000||0||60,000||35,000||650,000|
|$50 American Buffalo 1 Oz Gold Coins||0||3,500||0||9,000||4,500||136,000|
|$1 American Eagle 1 Oz Silver Coins||0||170,000||640,000||1,280,000||950,000||29,850,500|
|2016 Shawnee 5 Oz Silver Coins*||0||0||0||0||0||105,000|
|2016 Cumberland Gap 5 Oz Silver Coins*||0||0||0||0||0||75,000|
|2016 Harpers Ferry 5 Oz Silver Coins||0||0||0||1,900||0||36,100|
|2016 Theodore Roosevelt 5 Oz Silver Coins||0||1,500||1,000||27,500||2,500||30,000|