Precious metals futures advanced Wednesday. Silver was high among leaders, posting its strongest close in about twelve weeks.
Gold for June delivery gained $4, or 0.3%, to settle at $1,353.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since last Wednesday, April 11.
"We are up on safe-haven demand and a general commodities move," Reuters quoted George Gero, managing director of RBC Wealth Management, adding concerns over U.S. sanctions on Russia still remain.
"If gold can remain above the $1,350 level for a couple of days there is a good chance to see it jumping up to $1,400," he said.
Gold futures traded between $1,345 and $1,359. They dipped less than 0.1% on Tuesday. On Monday, they rose 0.2%.
Advancing for the ninth time in ten sessions, silver for May delivery soared 46.1 cents, or 2.8%, to settle at $17.248 an ounce. The settlement was the highest since Jan. 26. Silver futures ranged from $16.73 to $17.28. They rose 0.7% on Tuesday and edged up 0.1% on Monday.
In PGM futures on Wednesday:
July platinum added $5.80, or 0.6%, to $945.80 an ounce, trading between $938.60 and $952.30.
- Palladium for June delivery surged $29.95, or 3%, to $1,034.95 an ounce, ranging from $1,002.40 to $1,037.50.
London Precious Metals Prices
LBMA bullion prices are available on the LBMA website with a delay of midnight.
US Mint Bullion Sales in 2018
United States Mint bullion sales were unchanged. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.
|US Mint Bullion Sales (# of coins)|
|Wednesday||Last Week||This Week||March||April||2018 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||20,000|
|$50 American Eagle 1 Oz Gold Coin||0||2,000||500||2,500||2,500||46,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||0||0||16,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||0||0||26,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||10,000||0||95,000|
|$50 American Buffalo 1 Oz Gold Coin||0||500||500||1,000||1,000||29,500|
|$1 American Eagle 1 Oz Silver Coin||0||125,000||275,000||915,000||610,000||5,702,500|
|Pictured Rocks 5 Oz Silver Coin||0||0||0||10,000||0||30,000|
|Apostle Islands 5 Oz Silver Coin||0||N/A||30,000||N/A||30,000||30,000|