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|