Precious metals futures advanced Wednesday following a break from trading on Tuesday for Christmas. Gold marked another, more than six-month high while silver logged its strongest close in about four and a half months.
Gold for February delivery added $1.20, or less than 0.1%, to settle at $1,273 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since June 15 when gold ended at $1,278.50 an ounce.
"The downdraft in global equity markets has firmed up gold’s major support level to $1,250. But given the shaky global equity markets, and waning risk sentiment, we should expect safe-haven demand for gold to remain firm into year-end [and] beyond," MarketWatch quoted analysts at Oanda.
Meanwhile, silver for March delivery surged 30.3 cents, or 2%, to settle at $15.123 an ounce. The settlement was the highest since silver ended at $15.295 an ounce on Aug. 10. Silver futures traded between $14.78 and $15.25. They gained 0.8% on Monday.
In PGM futures prices Wednesday:
January platinum added $10.70, or 1.4%, to $800.10 an ounce, ranging from $788.30 to $804.30.
- Palladium for March delivery gained $9.80, or 0.8%, to $1,185.90 an ounce, trading between $1,174 and $1,189. Last Wednesday, palladium ended at a record of $1,201.30 an ounce.
London Precious Metals Prices
London markets also closed Wednesday for holiday. The latest LBMA prices on Monday were:
- Gold at $1,261.25 an ounce.
- Silver at $14.675 an ounce.
- Platinum at $792 an ounce.
- Palladium at $1,240 an ounce.
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 / This Week||Last Week||November||December||2018 Sales|
|$100 American Eagle 1 Oz Platinum Coin*||0||0||0||0||30,000|
|$50 American Eagle 1 Oz Gold Coin||0||0||16,000||2,000||190,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||4,000||0||32,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||0||62,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||20,000||0||230,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||5,500||1,500||121,500|
|$1 American Eagle 1 Oz Silver Coin||0||100,000||1,645,000||350,000||15,560,000|
|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||0||0||80,000||0||80,000|