Gold futures finished lower Wednesday. The loss was a first in five sessions and comes after the yellow metal closed Tuesday at an almost six-year high.
Gold for August delivery declined $3.30, or 0.2%, to settle at $1,415.40 an ounce on the Comex division of the New York Mercantile Exchange.
"Some profit taking from the shorter-term futures traders and chart consolidation are featured after prices hit a six-year high of $1,442.90 in August futures on Tuesday," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Bulls still have the solid technical advantage."
Gold futures ranged from a low of $1,405 to a high of $1,427.90. They edged up less than 0.1% on Tuesday — posting their highest close since Aug. 28, 2013, and they gained 1.3% on Monday.
Silver for July delivery dipped about a half cent, or less than 0.1%, to settle at $15.294 an ounce. Silver futures traded between $15.16 and $15.36. They lost 0.5% on Tuesday and rose 0.6% on Monday. Last Thursday, they settled at $15.492 an ounce for their best close since March 25.
In PGM futures Wednesday:
October platinum — the new, most active contract, rose $7.50, or 0.9%, to $822 an ounce, ranging from $808.30 to $824.20.
- Palladium for September delivery lost $6.80, or 0.4%, to $1,525.70 an ounce, trading between $1,512.30 and $1,535.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold fell $27.45, or 1.9%, to $1,403.95 an ounce.
- Silver declined 14.5 cents, or 0.9%, to $15.255 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||Last Week||This Week||April||May||June||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||0||0||6,500||3,500||3,500||77,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||1,000||0||0||19,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||2,000||0||0||26,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||25,000||5,000||5,000||145,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||0||6,500||3,000||3,000||47,500|
|$1 American Eagle 1 Oz Silver Coin||0||0||305,000||1,196,000||866,000||855,000||9,842,000|
|American Memorial Park 5 Oz Silver Coin||0||0||0||N/A||78,000||0||78,000|
|Lowell 5 Oz Silver Coin*||N/A||80,000|
|$100 American Eagle 1 Oz Platinum Coin*||N/A||6,500||N/A||0||40,000|