Precious metals futures in the mid-week trading session Wednesday logged fairly modest changes that ranged from a loss of 0.6% for silver to an advance of 0.6% for platinum.
Gold for December delivery declined $5.20, or 0.4%, to settle at $1,277.70 an ounce on the Comex division of the New York Mercantile Exchange.
Gold futures ranged from a low of $1,279 to a high of $1,290. They settled up 0.3% on Tuesday and advanced 0.4% in starting the week on Monday.
"The gold and silver markets saw overnight and early-U.S. gains evaporate Wednesday when the U.S. dollar index bounced off its daily low after suffering solid losses overnight," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
"A batch of important U.S. economic reports released earlier today provided a brief lift to precious metals prices. However, the greenback’s bearish influence proved too strong on this day," Wyckoff noted.
Earlier Wednesday, the Labor Department said consumer prices edged up 0.1% in October and year-over-year inflation eased to 2% from 2.2% previously.
Silver for December delivery dropped 10.2 cents to settle at $16.971 an ounce. Silver futures traded between $16.95 and $17.21. They rose 0.2% in the previous session and moved up 1% on Monday.
In PGM futures on Wednesday:
January platinum added $5.80 to $933.10 an ounce, ranging from $927.50 to $941.50.
- Palladium for December delivery dipped 45 cents, or less than 0.1%, to $985.10 an ounce, trading between $973.55 and $989.30.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold gained $7.60, or 0.6%, to 1,282.20 an ounce.
- Silver added 18 cents, or 1.1%, to $17.115 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 as of 4:01 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||October||November||YTD|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||20,000|
|$25 American Eagle 1 Oz Palladium Coin*||0||0||0||0||0||15,000|
|$50 American Eagle 1 Oz Gold Coin||0||1,500||2,500||11,000||5,000||186,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||2,000||0||32,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||2,000||0||58,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||10,000||30,000||10,000||370,000|
|$50 American Buffalo 1 Oz Gold Coin||0||500||500||7,000||1,000||84,500|
|$1 American Eagle 1 Oz Silver Coin||0||90,000||175,000||1,040,000||265,000||17,203,500|
|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||0||0||0||0||40,000|
|2017 George Rogers Clark 5 Oz Silver Coin*||0||N/A||30,900||N/A||30,900||30,900|