Precious metals futures registered losses on Wednesday that ranged from 0.3% to 1.5%. Gold and silver finished lower for a third straight day with the former logging another low for the year.
Gold for August delivery declined $3.80, or 0.3%, to end at $1,256.10 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the weakest since Dec. 13 when gold finished at $1,248.60 an ounce.
"The fact that gold has tumbled to a fresh 2018 low this morning despite global trade tensions weighing on sentiment, continues to beg the question if the precious metal has lost its safe-haven appeal," MarketWatch quoted Lukman Otunuga, research analyst at FXTM in a Wednesday morning research note.
Gold futures ranged from a low of $1,252.20 to a high of $1,261.90. They declined 0.7% on Tuesday and dipped 0.1% on Monday.
Silver for July delivery lost 9.9 cents, or 0.6%, to settle at $16.151 an ounce. Silver futures traded between $15.94 and $16.30. They fell 0.5% on Tuesday and lost 0.8% on Monday.
In PGM futures on Wednesday:
October platinum declined $12.70, or 1.5%, to $862 an ounce, ranging from $856 to $872.70.
- Palladium for September delivery fell $10.80, or 1.1%, to $943.90 an ounce, trading between $935 and $957.60.
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 moved up by 1,100 in Voyageurs 5-ounce silver bullion coins. 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||May||June||2018 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||10,000||0||30,000|
|$50 American Eagle 1 Oz Gold Coin||0||0||5,500||18,500||16,500||82,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||0||1,000||17,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||0||18,000||4,000||48,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||5,000||10,000||15,000||125,000|
|$50 American Buffalo 1 Oz Gold Coin||0||1,000||0||16,500||6,000||53,000|
|$1 American Eagle 1 Oz Silver Coin||0||215,000||95,000||380,000||435,000||6,822,500|
|Pictured Rocks 5 Oz Silver Coin||0||0||0||0||0||30,000|
|Apostle Islands 5 Oz Silver Coin||0||0||0||0||0||30,000|
|Voyageurs 5 Oz Silver Coin||1,100||28,900||1,100||0||30,000||30,000|