Gold futures settled lower for the first time in four sessions and from a 5-week high as investors sought more risk and the dollar climbed.
Gold for June delivery lost $9.90, or 0.8% to settle at $1,248.50 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold prices ended the U.S. day session lower Wednesday, in the wake of a robust ADP jobs report and a rallying U.S. dollar index and stock market," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily report. "Some profit taking from the shorter-term futures traders and chart consolidation were also featured following recent advances."
Gold futures ranged from a low of $1,245.40 to a high of $1,259.30. They rose 0.4% on Tuesday, ending at their highest level since Feb 27, and gained 0.2% on Monday.
Elsewhere, silver for May delivery declined 13.6 cents, or 0.7%, to settle at $18.187 an ounce. Silver futures traded between $18.14 and $18.33. They edged up 0.6% on Wednesday, scoring their best close since March 1, and slipped 0.2% on Monday.
In PGM futures Wednesday:
July platinum dipped $4.90, or 0.5%, to $959.60 an ounce, ranging from $955.90 to $972.20.
- Palladium for June delivery rose 80 cents, or 0.1%, to $807.75 an ounce, trading between $801.80 and $816.45.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Tuesday PM to Wednesday PM:
- Gold fell $11.85, or 0.9%, to $1,245.80 an ounce.
- Silver declined 8 cents, or 0.4% to $18.26 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 sales were unchanged Wednesday. 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 / April||Mar Sales||2017 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||20,000|
|$50 American Eagle 1 Oz Gold Coin||0||1,500||1,500||16,000||125,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||1,000||25,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||2,000||4,000||46,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||5,000||35,000||195,000|
|$50 American Buffalo 1 Oz Gold Coin||0||1,500||1,000||8,500||56,500|
|$1 American Eagle 1 Oz Silver Coin||0||320,000||255,000||1,615,000||8,212,500|
|2017 Frederick Douglass 5 Oz Silver Coin||0||N/A||9,700||N/A||9,700|
|2017 Effigy Mounds 5 Oz Silver Coin||0||200||600||200||20,300|