Precious metals futures mostly gained Wednesday. Increases in gold and silver were their first in four sessions and follow their almost two-week lows. Palladium ended near a new record. Platinum was the decliner.
Gold for December delivery tacked on $10.20, or 0.8%, to settle at $1,223.60 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold should stay fairly range-bound in the short term," Reuters quoted ING analyst Warren Patterson. "I struggle to see it breaking below $1,200 and likewise on the upside, until the end of this year, I struggle to see it breaking above $1,250 as well."
Gold futures ranged from a low of $1,210.50 to a high of $1,227.70. They lost 0.7% on Tuesday — ending at their lowest price since Nov. 14, and they dipped less than 0.1% on Monday.
Elsewhere, silver for December delivery advanced 24.1 cents, or 1.7%, to settle at $14.325 an ounce. Silver futures traded between $14.07 and $14.36. They declined 0.9% on Tuesday — also ending at their lowest price since Nov. 14, and they fell 0.3% on Monday.
In PGM futures on Wednesday:
January platinum lost $9, or 1.1%, to $826.30 an ounce, ranging from $816.50 to $837.40.
- Palladium for March delivery jumped $29.80, or 2.7%, to $1,151.90 an ounce — $2.70 lower than the record set on Nov. 16. Palladium prices traded between $1,125 and $1,161.10.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold declined $7.95, or 0.7%, to 1,213.25 an ounce.
- Silver fell 12.5 cents, or 0.9%, to $14.15 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
On Wednesday, the United States Mint published bullion sales gains for the first time in more than a week. The single reported 80,000-coin increase belongs to a five-ouncer.
Released Monday for sale to U.S. Mint bullion distributors, the new Block Island piece is the last of five 2018-dated 5-ounce America the Beautiful silver bullion coins. It depicts Block Island National Wildlife Refuge in Rhode Island — just like the companion quarter released over two weeks ago.
The 80,000 total is the most in the series since the first issues released in 2016.
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 / This Week||Last Week||October||November||2018 Sales|
|$100 American Eagle 1 Oz Platinum Coin*||0||0||0||0||30,000|
|$50 American Eagle 1 Oz Gold Coin||0||0||21,000||5,000||177,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||4,000||2,000||30,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||2,000||62,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||10,000||15,000||225,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||6,500||3,000||117,500|
|$1 American Eagle 1 Oz Silver Coin||0||0||1,430,000||1,270,000||14,835,000|
|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||0||0||52,500|
|Block Island 5 Oz Silver Coin||80,000||N/A||80,000||80,000|