For a third straight session Wednesday, palladium advanced while gold, silver and platinum declined. Gold and silver drove their losses to four sessions in a row after they posted multi-month highs last Thursday.
Gold for April delivery declined $4.80, or 0.4%, to settle at $1,314.40 an ounce on the Comex division of the New York Mercantile Exchange.
"Both markets [gold and silver] are this week seeing normal and healthy corrective pullbacks from recent gains that pushed prices to multi-month highs," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A rebound in the U.S. dollar index this week is also a negative for the precious metals markets."
Gold futures ranged from a low of $1,309.90 to a high of $1,319.90. They inched down less than 0.1% on Tuesday and shed 0.2% on Monday. Last Thursday, they settled at their best price since April 24.
Silver for March delivery declined 13.5 cents, or 0.9%, to settle at $15.701 an ounce. Silver futures traded between $15.67 and $15.87. They fell 0.3% on Tuesday and Monday. Last Thursday, they marked their best close since July 10.
In other precious metals futures dealings Wednesday:
April platinum lost $6.10, or 0.7%, to $813.80 an ounce, ranging from $807.20 to $824.80.
- Palladium for March added $10.40, or 0.8%, to $1,351.60 an ounce, trading between $1,332 and $1,356.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM
- Gold declined $1.80, or 0.1%, to $1,312.40 an ounce.
- Silver fell 13.5 cents, or 0.9%, to $15.73 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||January||February||2019 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||2,000||500||27,100||1,000||28,100|
|$50 American Eagle 1 Oz Gold Coin||0||2,500||3,000||44,500||4,000||48,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||0||15,000||0||15,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||20,000||0||20,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||40,000||5,000||85,000||5,000||90,000|
|$50 American Buffalo 1 Oz Gold Coin||0||1,000||2,000||23,500||2,000||25,500|
|$1 American Eagle 1 Oz Silver Coin||0||116,500||255,000||4,017,500||285,000||4,302,500|