Silver was alone among precious metals with its loss Wednesday — its first in three days. Gold’s gain, meanwhile, was its first in five sessions and comes on the heels of hitting a five-week low.
Gold for December delivery added $4, or 0.3%, to settle at $1,503.20 an ounce on the Comex division of the New York Mercantile Exchange.
"Weakening global growth, high risk aversion and low interest rates should keep prices elevated, but they are unlikely to provide a further boost given that they are, for the most part, already accounted for," analysts at Capital Economics wrote in a note according to Reuters.
Gold futures ranged from a low of $1,492.90 to a high of $1,506.20. They declined 0.8% on Tuesday — marking their weakest close since Aug. 6, and they lost 0.3% on Monday. Last Wednesday, they closed at $1,560.40 an ounce for their highest settlement since April 11, 2013.
Silver for December delivery fell 1.6 cents, or less than 0.1%, to close at $18.17 an ounce. Silver futures traded between $17.97 and $18.34. They edged up 0.1% on Tuesday and rose 0.3% on Monday. Last Wednesday, silver ended at $19.547 an ounce for its best settlement since Sept. 26, 2016.
In PGM futures on Wednesday:
October platinum gained $3.60, or 0.4%, to $940.20 an ounce, ranging from $932.40 to $948.30.
Palladium for December delivery rose $2.70, or 0.2%, to $1,556.80 an ounce, trading between $1,549.60 and $1,584.60.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold declined $7.60, or 0.5%, to $1,490.65 an ounce.
- Silver rose 17.5 cents, or 1%, to $18.165 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||August||September||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||1,500||1,000||5,500||2,500||89,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||1,000||1,000||24,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||0||2,000||30,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||0||0||5,000||165,000|
|$50 American Buffalo 1 Oz Gold Coin||0||500||0||1,500||500||50,000|
|$1 American Eagle 1 Oz Silver Coin||0||11,000||675,000||1,007,000||686,000||12,955,000|
|War in the Pacific 5 Oz Silver Coin||0||0||2,500||12,500||2,500||72,000|
|American Memorial Park 5 Oz Silver Coin*||0||0||0||2,000||0||80,000|
|Lowell 5 Oz Silver Coin*||N/A||80,000|
|$100 American Eagle 1 Oz Platinum Coin*||N/A||40,000|