Precious metals futures advanced in a shortened trading session Wednesday and ahead of the U.S. Independence Day holiday break on Thursday. Gold was not the largest gainer on the day but it made one of the biggest impressions, closing at a more than six-year high. Palladium, meanwhile, notched a new record.
Gold for August delivery tacked on $12.90, or 0.9%, to settle at $1,420.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since May 14, 2013 when gold ended at $1,424.50 an ounce.
"Gold is seeing some renewed safe-haven demand, fresh chart-based buying and support coming from ongoing notions of easier central bank monetary policies," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily report.
Gold futures ranged from a low of $1,414.70 to a high of $1,441. They gained 1.4% on Tuesday and declined 1.7% on Monday.
Silver for September delivery added 9.8 cents, or 0.6%, to settle at $15.336 an ounce. Silver futures traded between $15.24 and $15.51. They rose 0.3% on Tuesday and declined 1% on Monday.
In PGM futures on Wednesday;
October platinum advanced $10.10, or 1.2%, to $843.60 an ounce, ranging from $832.30 to $847.90.
- Palladium for September delivery added $13, or 0.8%, to $1,565.80 an ounce — a new, all-time record settlement. The metal traded between $1,547.20 and $1,567.90.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold gained $22.45, or 1.6%, to $1,413.50 an ounce.
- Silver rose 13 cents, or 0.9%, to $15.30 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 / July||Last Week||April||May||June||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||1,000||6,500||3,500||4,500||78,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||1,000||0||0||19,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||0||0||26,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||25,000||5,000||5,000||145,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||6,500||3,000||3,000||47,500|
|$1 American Eagle 1 Oz Silver Coin||0||485,000||1,196,000||866,000||1,035,000||10,022,000|
|American Memorial Park 5 Oz Silver Coin||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|