Precious metals mostly declined Wednesday. Gold futures closed lower for a third straight session, registering a 2-1/2-week low, while silver futures retreated for a second day to end at their lowest level in 6 weeks.
Gold for June delivery lost $3, or 0.2%, to settle at $1,264.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the lowest since April 10.
"World stock markets paused at mid-week, after the good early-week gains," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "However, traders and investors worldwide are still in an upbeat mood, which is bearish for safe-haven gold."
Gold futures ranged from a low of $1,260.70 to a high of $1,269.70. They slipped 0.8% on Tuesday and declined 0.9% on Monday.
Elsewhere, silver futures for May delivery settled down 22.8 cents, or 1.3%, to $17.363 an ounce. The close is the lowest since March 16. Silver futures traded between $17.29 and $17.63. They dropped 1.5% on Tuesday and inched up less than a half-cent on Monday.
In PGM futures on Wednesday:
July platinum fell $9.50, or 1%, to $948.10 an ounce, ranging from $945.80 to $958.40.
- Palladium for June delivery added $8.50, or 1.1%, to $805.15 an ounce, trading between $796.50 and $808.20.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Tuesday PM to Wednesday PM:
- Gold fell $5.95, or 0.5%, to $1,261.85 an ounce.
- Silver declined 25 cents, or 1.4%, to $17.59 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. 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||Mar Sales||April Sales||2017 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||20,000|
|$50 American Eagle 1 Oz Gold Coin||0||0||500||16,000||3,000||126,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||1,000||0||25,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||4,000||2,000||46,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||10,000||35,000||20,000||210,000|
|$50 American Buffalo 1 Oz Gold Coin||0||500||500||8,500||3,000||58,500|
|$1 American Eagle 1 Oz Silver Coin||0||220,000||235,000||1,615,000||835,000||8,792,500|
|2017 Effigy Mounds 5 Oz Silver Coin||0||300||0||200||900||20,600|
|2017 Frederick Douglass 5 Oz Silver Coin||0||4,200||1,400||N/A||17,600||17,600|