Precious metals futures moved little in the mid-week trading session Wednesday. Gold drove its winning streak to four sessions in row to reach an almost two-week high.
Gold for December delivery rose $3.30, or 0.3%, to end at $1,203.30 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the best since Aug. 10.
Although gold prices "have staged a solid rebound from the $1,160 yearly low, the outlook remains tilted to the downside," MarketWatch quoted Lukman Otunuga, research analyst at FXTM. "With the dollar poised to recover on heightened U.S. rate-hike expectations and safe-haven demand, gold remains vulnerable to downside losses."
Gold futures ranged from a low of $1,199.20 to a high of $1,208.40. They climbed 0.5% on Tuesday and gained 0.9% on Monday.
Ending lower for the first time in three days, silver for September shed 1.6 cents, or 0.1%, to $14.75 an ounce. Silver futures traded between $14.67 and $14.88. They climbed 0.7% on Tuesday and edged up 0.3% on Monday.
In PGM futures on Wednesday:
October platinum inched up 70 cents, or 0.1%, to $793.70 an ounce, ranging from $788.40 to $801.50.
Palladium for September delivery gained $8.20, or 0.9%, to $918.20 an ounce, trading between $900.20 and $920.40.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold added $5.70, or 0.5%, to 1,196.65 an ounce.
- Silver added 2.5 cents, or 0.2%, to $14.81 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 increased by 25,000 ounces in American Silver Eagles and by a 1,500 ounces in American Gold Eagles. 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||July||August||2018 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||30,000|
|$50 American Eagle 1 Oz Gold Coin||1,500||4,000||31,500||13,500||132,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||1,000||2,000||20,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||2,000||2,000||52,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||25,000||5,000||155,000|
|$50 American Buffalo 1 Oz Gold Coin||0||8,500||24,500||18,000||96,000|
|$1 American Eagle 1 Oz Silver Coin||25,000||690,000||885,000||1,180,000||8,887,500|
|Pictured Rocks 5 Oz Silver Coin||0||0||0||0||30,000|
|Apostle Islands 5 Oz Silver Coin||0||0||0||0||30,000|
|Voyageurs 5 Oz Silver Coin||0||0||0||0||30,000|