Precious metals futures rose slightly Wednesday. Gold was the weakest gainer overall, advancing less than 0.1% as the U.S. dollar eased.
Gold for February delivery edged up 60 cents to finish at $1,284 an ounce on the Comex division of the New York Mercantile Exchange.
"Technically, February gold futures bulls have the overall near-term technical advantage, but are fading. A two-month-old price uptrend is still in place on the daily bar chart, but just barely," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Gold bulls’ next upside near-term price breakout objective is to produce a close above solid technical resistance at $1,300."
Gold futures ranged from a low of $1,277.70 to a high of $1,286. They rose less than 0.1% on Tuesday.
Meanwhile, silver for March delivery picked up 5.5 cents, or 0.4%, to settle at $15.38 an ounce. Silver futures traded between $15.27 and $15.45. They declined 0.5% on Tuesday.
In PGM futures on Wednesday:
April platinum added $5.20, or 0.7%, to $796.40 an ounce, ranging from $790.80 to $798.30.
- Palladium for March delivery gained $1.70, or 0.1%, to $1,308.20 an ounce, trading between $1,295 and $1,319.50. On Thursday, palladium logged a record settlement at $1,348.20 an ounce.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold fell $2.30, or 0.2%, to $1,279.80 an ounce.
- Silver was unchanged at $15.26 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight
US Mint 2019 Bullion Sales
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||Last Week||This Week||December||2018 Sales||2019 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||2,800||0||0||30,000||25,600|
|$50 American Eagle 1 Oz Gold Coin||0||8,500||1,500||3,000||191,000||42,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||0||0||32,000||14,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||4,000||0||0||62,000||20,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||15,000||0||0||230,000||75,000|
|$50 American Buffalo 1 Oz Gold Coin||0||2,500||1,500||1,500||121,500||22,500|
|$1 American Eagle 1 Oz Silver Coin||0||710,000||375,000||490,000||15,700,000||3,931,000|