Precious metals futures ended mostly lower Wednesday. Gold’s modest decline brought it down from an almost 8-week high.
Gold for December delivery shed $1, or less than 0.1%, to settle at $1,278.40 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold prices ended the U.S. day session a bit lower Wednesday, on some mild profit taking from recent gains that pushed the market to a six-week high on Tuesday," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Bullish ‘outside markets’ today limited selling pressure in the gold and silver markets. The U.S. dollar index was lower and crude oil prices were higher."
Gold futures ranged from a low of $1,268.90 to a high of $1,279. They climbed 0.5% on Tuesday, logging their highest close since June 8, and dipped 0.1% on Monday.
Silver for September delivery declined 3.1 cents, or 0.2%, to close at $16.733 an ounce. Silver futures traded between $16.45 and $16.96. They slipped 0.1% on Tuesday and advanced 0.6% on Monday, ending at their best price since June 14.
In PGM futures on Wednesday:
-
October platinum added $4.30, or 0.5%, to $953.80 an ounce, ranging from $942.20 and $954.80.
- Ending lower for the first time in eight sessions, palladium for September delivery shed $1.20, or 0.1%, to $892.20 an ounce. Prices traded between $888.45 and $903.50.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold declined $1.35, or 0.1%, to 1,269.605 an ounce.
- Silver fell 7 cents, or 0.4%, to $16.67 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
United States 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 / Aug | Last Week | This Week | June | July | YTD | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 20,000 |
| $50 American Eagle 1 Oz Gold Coin | 0 | 500 | 1,000 | 4,000 | 12,500 | 154,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 0 | 0 | 27,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 0 | 4,000 | 52,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 20,000 | 30,000 | 290,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 500 | 1,500 | 2,000 | 5,000 | 71,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 205,000 | 50,000 | 986,000 | 2,270,000 | 14,503,500 |
| 2017 Effigy Mounds 5 Oz Silver Coin | 0 | 0 | 0 | 8,800 | 0 | 35,000 |
| 2017 Frederick Douglass 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 20,000 |
| 2017 Ozark Riverways 5 Oz Silver Coin | 0 | 0 | 0 | 20,000 | 0 | 20,000 |
