Precious metals futures declined Wednesday, with both gold and silver sliding from more than three-week highs.
Gold for December delivery declined $7, or 0.6%, to settle at $1,266.60 an ounce on the Comex division of the New York Mercantile Exchange.
"In the afternoon, equity markets bounced back sharply once the U.S. session got underway while safe haven gold started to drift lower again," Reuters quoted Fawad Razaqzada, market analyst for forex.com.
Gold futures ranged from a low of $1,265.10 to a high of $1,277.20. They climbed 0.8% on Tuesday, marking their best close since Oct. 3.
Meanwhile, silver for December lost 15.4 cents, or 0.9%, to close at $17.626 an ounce. Silver futures traded between $17.57 and $17.87. In the previous session, they gained 1% and also finished at their best level since Oct. 3.
In PGM futures on Wednesday:
January platinum slipped 90 cents, or less than 0.1%, to $964 an ounce, ranging from $958 to $971.90.
- Palladium for December delivery fell $13.90, or 2.2%, to $620.95 an ounce, trading between $618.20 and $639.60.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Tuesday PM to Wednesday PM:
- Gold rose $1.10, or less than 0.1%, to $1,270.50 an ounce.
- Silver fell 7 cents, or 0.4%, to $17.66 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 States Mint bullion sales were unchanged. Below is a sales breakdown of U.S. Mint bullion coins 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||Sept Sales||Oct Sales||2016 Sales|
|$100 American Eagle 1 Oz Platinum Coins*||–||20,000|
|$50 American Eagle 1 Oz Gold Coins||0||19,000||13,500||79,000||90,000||655,000|
|$25 American Eagle 1/2 Oz Gold Coins||0||2,000||1,000||5,000||7,000||63,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||4,000||4,000||16,000||16,000||132,000|
|$5 American Eagle 1/10 Oz Gold Coins||0||10,000||20,000||85,000||70,000||770,000|
|$50 American Buffalo 1 Oz Gold Coins||0||10,000||2,000||17,500||24,000||173,000|
|$1 American Eagle 1 Oz Silver Coins||0||1,325,000||25,0000||1,675,000||3,670,000||34,250,500|
|2016 Shawnee 5 Oz Silver Coins*||–||105,000|
|2016 Cumberland Gap 5 Oz Silver Coins*||–||75,000|
|2016 Harpers Ferry 5 Oz Silver Coins||0||200||0||200||200||36,500|
|2016 Theodore Roosevelt 5 Oz Silver Coins||0||800||500||2,000||3,100||32,600|