Precious metals futures ended lower in their start to the new trading month on Wednesday. Gold’s loss was its fourth in five sessions.
Gold for December delivery declined $6, or 0.5%, to settle at $1,227.60 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold needs a break lower in the dollar or stronger inflation data to try and resume a rally, and until then and barring a surprise geopolitical scare, gold will have a hard time rallying," MarketWatch quoted Tyler Richey, co-editor of the Sevens Report.
Gold futures ranged from a low of $1,224.40 to a high of $1,233.70. They rose 0.2% on Tuesday — ending the month of July with a 1.7% loss, and edged down 0.1% on Monday.
Meanwhile, silver for September dropped 10.7 cents, or 0.7%, to end at $15.452 an ounce. Silver futures traded between $15.39 and $15.56. They climbed 0.1% on Tuesday — registering a 3.9% monthly loss, and rose 0.3% on Monday.
In PGM futures on Wednesday:
-
October platinum fell $28.60, or 3.4%, to $817.20 an ounce, ranging from $815.60 to $841.70.
- Palladium for September delivery fell $20, or 2.2%, to $911.90 an ounce, trading between $906 and $930.40.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold declined $1.95, or 0.2%, to 1,219 an ounce.
- Silver rose 4.5 cents, or 0.3%, to $15.475 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. 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 / August | Last Week | This Week | June | July | 2018 Sales | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 30,000 |
| $50 American Eagle 1 Oz Gold Coin | 0 | 6,500 | 1,500 | 21,500 | 31,500 | 119,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 1,000 | 1,000 | 18,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 0 | 4,000 | 2,000 | 50,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 0 | 15,000 | 25,000 | 150,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 6,000 | 6,500 | 24,500 | 78,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 240,000 | 100,000 | 435,000 | 885,000 | 7,707,500 |
| 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 | 0 | 0 | 0 | 30,000 | 0 | 30,000 |
