Precious metals futures rose Wednesday. Their gains ranged from 0.1% for gold to 2.3% for platinum. Silver closed at yet another fresh, more than 13-month high.
Gold for August delivery settled up $1.90 to $1,423.60 an ounce on the Comex division of the New York Mercantile Exchange.
"Technically, August gold futures prices closed near mid-range again today. The bulls have the firm overall near-term technical advantage and are keeping in place a two-month-old uptrend on the daily bar chart," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Gold bulls’ next upside near-term price breakout objective is to produce a close above solid technical resistance at the July high of $1,454.40."
Gold futures ranged from a low of $1,416.70 to a high of $1,430. They slipped 0.4% on Tuesday and inched up 0.01% on Monday. Last Thursday, they ended at $1,428.10 an ounce for their highest close since May 13, 2013.
Logging an eighth gain in nine sessions, silver for September delivery added 15 cents, or 0.9% to settle at $16.626 an ounce. The settlement was the highest since June 14, 2018 when prices closed at $17.262 an ounce. Silver futures traded between $16.35 and $16.68. They rose 0.4% on Tuesday and gained 1.3% on Monday.
In PGM futures on Wednesday:
October platinum advanced $19.50 to $881.10 an ounce, ranging from $858.90 to $882.40.
- Palladium for September tacked on $19.90, or 1.3%, to $1,538.50 an ounce, trading between $1,518 and $1,540.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold added $1.40, or 0.1%, to $1,426.95 an ounce.
- Silver rose 10.5 cents, or 0.6%, to $16.535 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||June||July||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||500||500||4,500||1,000||79,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||0||0||2,000||21,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||0||2,000||28,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||5,000||5,000||15,000||160,000|
|$50 American Buffalo 1 Oz Gold Coin||0||500||0||3,000||500||48,000|
|$1 American Eagle 1 Oz Silver Coin||0||75,000||0||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|