Gold and silver futures settled lower for a second straight session Wednesday, and then climbed slightly in electronic trading after minutes from the Fed’s last meeting were released.
Gold for June delivery dipped $2.40, or 0.2%, to settle at $1,253.10 an ounce on the Comex division of the New York Mercantile Exchange.
In trading after the minutes were released, gold rose above $1,257 an ounce.
"Gold prices were trading slightly higher in U.S. trading early Wednesday afternoon, on a mildly bullish reaction to the just-released FOMC minutes," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "There had recently been a lack of new, bullish fundamental inputs for the safe-haven metal. This had allowed the sellers to gain a bit of momentum this week."
Gold futures ranged from a low of $1,247.60 to a high of $1,258.20. They slipped 0.5% on Tuesday and climbed 0.6% on Monday, closing at their highest price since April 28.
Meanwhile, silver for July delivery shed 2.2 cents, or 0.1%, to settle at $17.117 an ounce. Silver futures traded between $16.89 and $17.20. They declined 0.3% on Tuesday and gained 2.4% on Monday — also ending at their best price since April 28. The precious metal was at $17.20 an ounce in after-hours trade.
In PGM futures on Wednesday:
July platinum fell $2.10, or 0.2%, to $947.30 an ounce, ranging from $940.30 to $951.40.
- Palladium for June delivery declined $10.70, or 1.4%, to $761.65 an ounce, trading between $756.25 and $772.80.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Tuesday PM to Wednesday PM:
- Gold lost $7.65, or 0.6%, to $1,252.55 an ounce.
- Silver fell 11 cents, or 0.6%, to $17.03 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion 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||Last Week||This Week||April Sales||May 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||3,000||3,000||3,500||9,000||136,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||0||1,000||26,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||0||2,000||2,000||48,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||10,000||20,000||30,000||240,000|
|$50 American Buffalo 1 Oz Gold Coin||0||2,000||0||3,500||4,500||63,500|
|$1 American Eagle 1 Oz Silver Coin||0||505,000||445,000||835,000||2,005,000||10,797,500|
|2017 Effigy Mounds 5 Oz Silver Coin||0||300||2,600||900||3,500||24,100|
|2017 Frederick Douglass 5 Oz Silver Coin||0||0||0||17,600||2,400||20,000|