Precious metals futures moved lower Wednesday, with gold and silver extending their losses to three consecutive days.
Gold for December delivery lost $4.70, or 0.4%, to settle at $1,328 an ounce on the Comex division of the New York Mercantile Exchange.
"Some more profit-taking pressure from recent gains was featured. Also, a solid bounce in the U.S. dollar index today pressured the precious metals markets," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
Gold futures ranged from a low of $1,324.50 to a high of $1,340.50. They shed 0.2% in the previous session and declined 1.1% in their start to the trading week on Monday. On Friday, they ended at $1,351.20 an ounce for their highest settlement since Sept. 6, 2016.
Silver for December delivery dipped 2.3 cents, or 0.1%, to settle at $17.867 an ounce. Silver futures traded between $17.72 and $18.13. They declined less than 0.1% on Tuesday and slipped 1.2% on Monday. They closed on Friday at their strongest price since April 19.
In PGM futures on Wednesday:
October platinum fell $3.30, or 0.3%, to $983.20 an ounce, ranging from $979.50 to $994.00.
- Palladium for December delivery declined $9.70, or 1%, to $933.700 an ounce, trading between $931.80 and $950.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold added $1.05 or 0.08%, to 1,327.55 an ounce.
- Silver added 16 cents, or 0.9%, to $17.91 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 as of 3:51 p.m. ET. 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||August||September||YTD|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||20,000|
|$50 American Eagle 1 Oz Gold Coin||0||2,000||2,000||6,500||4,000||166,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||2,000||0||29,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||2,000||0||54,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||15,000||15,000||15,000||320,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||0||3,000||0||75,000|
|$1 American Eagle 1 Oz Silver Coin||0||25,000||50,000||1,025,000||75,000||15,653,500|
|2017 Effigy Mounds 5 Oz Silver Coin||0||0||0||0||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||0||0||20,000|
|2017 Ellis Island 5 Oz Silver Coin*||0||500||0||39,500||500||40,000|