Precious metals futures advanced Wednesday. Gains in gold and silver were their first in four sessions.
Gold for December delivery rose $2.40, or 0.2%, to settle at $1,228.70 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold and silver prices are slightly higher, but well down from earlier daily highs, in early-afternoon U.S. trading Wednesday," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The metals were lifted by a drop in the U.S. dollar index today."
Gold futures ranged from a low of $1,224.20 to a high of $1,238.40. They lost 0.5% on Tuesday and dipped less than 0.1% on Monday.
Silver for December delivery gained 6.9 cents, or 0.5%, to settle at $14.569 an ounce. Silver futures traded between $14.47 and $14.73. They fell 1% on Tuesday and lost 0.7% on Monday.
In PGM futures on Wednesday:
January platinum added $7.30, or 0.8%, to $878.80 an ounce, ranging from $869.70 to $881.50.
- Palladium for December delivery jumped $25.40, or 2.3%, to $1,120.70 an ounce, trading between $1,098 and $1,118.70. On Monday, they closed just $1.20 away from an all-time record.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold fell $1.65, or 0.1%, to 1,229.95 an ounce.
- Silver declined 3 cents, or 0.2%, to $14.67 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 registered their first gains of the month. Advances included a combined 8,000 ounces in American Eagle and Buffalo gold coins and 405,000 ounces in American Silver 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 / November||Last Week||September||October||2018 Sales|
|$100 American Eagle 1 Oz Platinum Coin*||0||0||0||0||30,000|
|$50 American Eagle 1 Oz Gold Coin||4,000||2,500||14,500||21,000||176,000|
|$25 American Eagle 1/2 Oz Gold Coin||2,000||0||2,000||4,000||30,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||4,000||2,000||60,000|
|$5 American Eagle 1/10 Oz Gold Coin||10,000||0||40,000||10,000||220,000|
|$50 American Buffalo 1 Oz Gold Coin||2,000||1,500||11,000||6,500||116,500|
|$1 American Eagle 1 Oz Silver Coin||405,000||75,000||2,897,500||1,430,000||13,970,000|
|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|
|Cumberland Island 5 Oz Silver Coin||0||0||52,500||0||52,500|
This article was edited to include updated U.S. Mint bullion figures. In addition to the first figures for November, the agency updated American Eagle gold and silver sales for October.