Gold and silver futures closed lower in normal trading hours Wednesday, and then fell further in after-hour dealings following the release of the Fed’s latest monetary policy statement.
Gold for June delivery declined $1.50, or 0.1%, to settle at $1,284.20 an ounce on the Comex division of the New York Mercantile Exchange. In electronic trading after the Fed news, gold prices moved toward $1,276 an ounce.
"The yellow metal is feeling pressure as Federal Reserve Chairman Jerome Powell is holding his post-FOMC press conference and is sounding positive on the U.S. economic outlook," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a note.
Gold futures ranged from a low of $1,279.20 to a high of $1,288.50. They rose 0.3% on Tuesday, ending the month of April with a 1% loss.
Silver for July delivery dropped 25.5 cents, or 1.7%, to settle at $14.729 an ounce. Silver futures traded between $14.70 and $14.99. They gained 0.3% on Tuesday, marking an April decline of 0.8%. The precious metal was last near $14.65 an ounce in after-hours trading.
In PGM futures on Wednesday:
July platinum fell $14.30, or 1.6%, to $877.40 an ounce, ranging from $870.30 and $892.40.
- Palladium for June delivery stumbled $38.30, or 2.8%, to $1,344.40 an ounce, trading between $1,303.60 and $1,378.10.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM
- Gold rose $1.50, or 0.1%, to $1,283.80 an ounce.
- Silver declined 10.5 cent, or 0.7%, to $14.88 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. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Wednesday / May||Last Week||This Week||March||April||2019 Sales|
|$100 American Eagle 1 Oz Platinum Coin*||0||1,800||2,600||4,000||6,500||40,000|
|$50 American Eagle 1 Oz Gold Coin||0||2,500||1,000||8,500||6,500||70,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||1,000||1,000||19,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||4,000||2,000||26,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||15,000||10,000||145,000|
|$50 American Buffalo 1 Oz Gold Coin||0||500||1,500||5,500||6,500||41,500|
|$1 American Eagle 1 Oz Silver Coin||0||0||646,000||850,000||1,196,000||8,121,000|
|Lowell 5 Oz Silver Coin*||0||0||0||80,000||0||80,000|