Gold Gains for Fifth Session, Palladium Logs New Record

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US Dollars and Gold Bullion Bars
Gold gained again Wed., Jan. 17, as the U.S. dollar fell

Gold futures lifted their winning sessions to five in row Wednesday, and settled a new, more than four-month high.

Gold for February delivery rose $2.10, or 0.2%, to end at $1,339.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was again the highest since Sept. 8 when prices finished at $1,351.20 an ounce.

"Some minor profit-taking early saw gold traders then step in to buy the dip when the U.S. dollar index could not hold its early gains and dropped to a 3.5-year low," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily report.

Gold futures traded between $1,326.60 and $1,344.50. They also climbed 0.2% in their start to the trading week on Tuesday.

Silver for March delivery shed 2.3 cents, or 0.1%, to settle at $17.166 an ounce. Silver futures ranged from $16.98 to $17.31. They ended 0.3% higher on Tuesday.

In PGM futures on Wednesday:

  • April platinum gained $6, or 0.6%, to $1,010.90 an ounce, trading between $1,002.20 and $1,012.90.

  • Palladium for March delivery tacked on $21.55, or 2%, to $1,109.70 an ounce, ranging from $1,089.20 to $1,113.95. The close was a new all-time high.

Last week, the two metals each advanced 2.2%.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:

  • Gold added $1.80, or 0.1%, to $1,335.65 an ounce.
  • Silver added 11.5 cents, or 0.7%, to $17.21 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight

US Mint Bullion Sales in 2018

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.

US Mint Bullion Sales (# of coins)
Wednesday Last Week This Week December 2017 Sales 2018 Sales
$50 American Eagle 1 Oz Gold Coin 0 27,000 2,500 38,000 228,500 29,500
$25 American Eagle 1/2 Oz Gold Coin 0 12,000 2,000 3,000 37,000 14,000
$10 American Eagle 1/4 Oz Gold Coin 0 24,000 0 4,000 64,000 24,000
$5 American Eagle 1/10 Oz Gold Coin 0 60,000 5,000 25,000 395,000 65,000
$50 American Buffalo 1 Oz Gold Coin 0 18,500 2,000 14,000 99,500 20,500
$1 American Eagle 1 Oz Silver Coin 0 2,520,000 250,000 742,000 18,065,500 2,770,000
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