Precious metals futures declined Wednesday as the U.S. dollar gained against other world currencies. Gold finished at its lowest price in five weeks.
Gold for June delivery declined $10.20, or 0.8%, to settle at $1,322.80 an ounce on the Comex division of the New York Mercantile Exchange. The close is the lowest since March 21.
"As traders put geopolitical and trade risk in the rear-view mirror for the time being, how the dollar flourishes and wilts will be the primary driver of near-term gold sentiment," Reuters quoted Stephen Innes, APAC trading head at OANDA.
Gold futures ranged from a low of $1,320.20 to a high of $1,333.80. They advanced 0.7% on Tuesday, and dropped 1.1% in starting the trading week on Monday.
Silver for May delivery fell 20.1 cents, or 1.2%, to settle at $16.502 an ounce. Silver futures traded between $16.47 and $16.71. They rose 0.7% on Tuesday, and sank 3.4% on Monday
In PGM futures on Wednesday:
July platinum lost $22.30, or 2.4%, to $912.70 an ounce, ranging from $911.40 to $934.90.
- Palladium for June delivery declined $4.15, or 0.4%, to $967.50 an ounce, trading between $951.80 and $969.
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 / This Week||Last Week||March||April||2018 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||20,000|
|$50 American Eagle 1 Oz Gold Coin||0||500||2,500||2,500||46,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||0||16,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||0||26,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||10,000||0||95,000|
|$50 American Buffalo 1 Oz Gold Coin||0||500||1,000||1,000||29,500|
|$1 American Eagle 1 Oz Silver Coin||0||275,000||915,000||610,000||5,702,500|
|Pictured Rocks 5 Oz Silver Coin||0||0||10,000||0||30,000|
|Apostle Islands 5 Oz Silver Coin||0||30,000||N/A||30,000||30,000|