Three of four major precious metals rose modestly in thin trading action Wednesday. Platinum was the outlier, dropping 1.2%. The metals were little changed in after-hour dealings following the release of the minutes from the FOMC’s last policy meeting.
Gold for June delivery rose $1, or less than 0.1%, to settle at $1,274.20 an ounce on the Comex division of the New York Mercantile Exchange.
"Today’s gold move is largely a reflection of a slight weakness in the dollar and lower equity markets supporting prices," Reuters quoted ING analyst Warren Patterson.
"(However), going forward gold movement will largely be dictated by what happens with the dollar and escalation in trade war between the United States and China."
Gold futures ranged from a low of $1,272 to a high of $1,277.10. They declined 0.3% on Tuesday — closing at their lowest price since May 2, and rose 0.1% on Monday.
Silver for July delivery climbed 3.9 cents, or 0.3%, to close at $14.449 an ounce. Silver futures traded between $14.37 and $14.48. They lost 0.2% on Tuesday and gained 0.4% on Monday.
In PGM futures on Wednesday:
July platinum fell $10.10 to $805.30 an ounce, ranging from $804.60 to $818.50.
- Palladium for June delivery rose $1, or less than 0.1%, to $1,313.50 an ounce, trading between $1,291.70 and $1,323.70.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold added $2.65, or 0.2%, to $1,273.80 an ounce.
- Silver added a half cent to $14.435 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 increased by a combined 40,000 ounces in silver coins.
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||Last Week||This Week||March||April||May||2019 Sales|
|$100 American Eagle 1 Oz Platinum Coin*||N/A||4,000||6,500||N/A||40,000|
|$50 American Eagle 1 Oz Gold Coin||0||1,000||1,500||8,500||6,500||2,500||73,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||1,000||1,000||0||19,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||4,000||2,000||0||26,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||5,000||15,000||25,000||5,000||140,000|
|$50 American Buffalo 1 Oz Gold Coin||0||1,000||2,000||5,500||6,500||3,000||44,500|
|$1 American Eagle 1 Oz Silver Coin||20,000||0||566,000||850,000||1,196,000||726,000||8,847,000|
|Lowell 5 Oz Silver Coin*||N/A||80,000||N/A||80,000|
|American Memorial Park 5 Oz Silver Coin||4,000||N/A||78,000||N/A||78,000||78,000|