Precious metals advanced as a group Wednesday. Gains in gold and silver brought them back to more than two-week high settlements.
Gold for February delivery gained $5.40, or 0.4%, to end at $1,269.60 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Dec. 4.
"The dollar-denominated precious metal has found support from various sources, chief among them is the dollar, which has weakened against a number of currencies amid the lack of any significant news to support it," MarketWatch quoted Fawad Razaqzada, technical analyst at Forex.com.
Gold futures traded from a low of $1,264.40 to a high of $1,271.40. They dipped 0.1% on Tuesday and climbed 0.6% on Monday.
Meanwhile, silver for March delivery tacked on 12.2 cents, or 0.8%, to finish at $16.275 an ounce. The close is also the highest since Dec. 4. Silver futures ranged from $16.15 to $16.32. They declined 0.3% on Tuesday and gained 0.9% on Monday.
In PGM futures on Wednesday:
January platinum moved up $7.40, or 0.8%, to $921.50 an ounce, trading between $910.90 and $925.
- Palladium for March delivery added $6, or 0.6%, to $1,024.60 an ounce, ranging from $1,015 to $1,028.90.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold rose $4.20, or 0.3%, to 1,264.55 an ounce.
- Silver added 3 cents, or 0.2%, to $16.185 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 advanced by a combined 1,000 ounces in gold coins. 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||November||December||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||500||28,000||8,000||9,500||36,000||226,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||3,000||0||2,000||3,000||37,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||4,000||0||2,000||4,000||64,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||15,000||0||10,000||25,000||395,000|
|$50 American Buffalo 1 Oz Gold Coin||500||10,500||2,500||2,000||14,000||99,500|
|$1 American Eagle 1 Oz Silver Coin||0||622,000||0||385,000||742,000||18,065,500|
|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||0||0||32,400||0||32,400|