Gold futures advanced for a fifth straight session Wednesday, posting a fresh close at now a three-week high.
Gold for April delivery settled up $3.20, or 0.3%, to $1,249.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement remains the highest since March 1 when prices ended at $1,250 an ounce.
"Gold prices ended the U.S. day session modestly higher and hit a three-week high Wednesday, on some more safe-haven demand amid a shaky U.S. stock market at mid-week," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily report. ‘A weakening U.S. dollar index recently is also working in favor of the precious metals market bulls."
Gold futures ranged from a low of $1,243.80 to a high of $1,251.40. They rose 1% on Tuesday and moved up 0.3% on Monday.
Ending lower for the first time in five sessions, but barely, silver for May delivery shed a half-penny to $17.578 an ounce. Silver futures traded between $17.46 and $17.61. They gained 0.8% on Tuesday, ending at their best level since March 6, and edged up 0.1% on Monday.
In PGM futures on Wednesday:
April platinum declined $9.50, or 1%, to $961.90 an ounce, ranging from $960.50 to $974.50.
- Palladium for June delivery added $1.80, or 0.2%, to $789.45 an ounce, trading between $781.75 and $795.20.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Tuesday PM to Wednesday PM:
- Gold gained $7.45, or 0.6%, to $1,249.05 an ounce.
- Silver added 27 cents, or 1.6%, to $17.58 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 2017
U.S. Mint bullion products logged gains of 5,000 ounces in American Eagle and Buffalo gold coins and 30,000 ounces in American Silver Eagles.
Below is a sales breakdown of U.S. bullion products with columns listing 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||Feb Sales||Mar Sales||2017 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||20,000|
|$50 American Eagle 1 Oz Gold Coin||3,000||2,500||7,500||21,000||13,500||121,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||0||5,000||1,000||25,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||0||4,000||2,000||42,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||20,000||5,000||30,000||35,000||190,000|
|$50 American Buffalo 1 Oz Gold Coin||2,000||2,500||4,000||15,000||7,000||54,000|
|$1 American Eagle 1 Oz Silver Coin||30,000||220,000||795,000||1,215,000||1,295,000||7,637,500|
|2017 Effigy Mounds 5 Oz Silver Coin||0||0||0||19,500||0||19,500|
|2016 Shawnee 5 Oz Silver Coins*||–|
|2016 Cumberland Gap 5 Oz Silver Coin*||–|
|2016 Harpers Ferry 5 Oz Silver Coin||0||0||0||0||0||0|
|2016 Theodore Roosevelt 5 Oz Silver Coin*||–|
|2016 Fort Moultrie 5 Oz Silver Coin||0||0||0||0||0||0|