Precious metals futures gained Wednesday. Silver finished near a five-month high and gold closed at a more than six-year high.
Gold for August delivery tacked on $12.10, or 0.9%, to settle at $1,423.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since May 14, 2013 when the precious metal ended at $1,424.50 an ounce.
"The prospect of a U.S. interest rate cut and several other central banks remaining dovish is still depressing the value of paper money and providing support to gold," MarketWatch quoted Colin Cieszynski, chief market strategist at SIA Wealth Management.
Gold futures ranged from a low of $1,401.30 to a high of $1,428.40. They shed 0.2% on Tuesday and rose nearly 0.1% on Monday.
Posting their seventh gain in eight sessions, silver for September delivery jumped 29.3 cents, or 1.9%, to settle at $15.971 an ounce. The settlement was the highest since Feb. 20 when silver closed at $16.177 an ounce. Silver futures traded between $15.55 and $16.03. They advanced 2% on Tuesday and gained 0.9% on Monday.
In PGM futures on Wednesday:
October platinum edged up 20 cents, or 0.02%, to $847.10 an ounce, ranging from $838.20 to $854.60.
- Palladium for September delivery surged $26.90, or 1.8%, to $1,543.20 an ounce, trading between $1,513.90 and $1,548.10. Last Wednesday, palladium notched a record settlement of $1,588.10 an ounce.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold rose 50 cents, or 0.04%, to $1,410.35 an ounce.
- Silver added 21.5 cents, or 1.4%, to $15.61 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 coins marked combined gains of 1,000 ounces in American Gold Eagles.
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||June||July||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||500||0||500||4,500||500||79,000|
|$25 American Eagle 1/2 Oz Gold Coin||1,000||1,000||1,000||0||2,000||21,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||0||0||2,000||28,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||0||5,000||5,000||150,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||0||3,000||0||47,500|
|$1 American Eagle 1 Oz Silver Coin||0||262,000||75,000||1,035,000||337,000||10,359,000|
|American Memorial Park 5 Oz Silver Coin||0||0||0||0||0||78,000|
|Lowell 5 Oz Silver Coin*||N/A||80,000|
|$100 American Eagle 1 Oz Platinum Coin*||N/A||40,000|