In precious metals trading Wednesday, all but gold closed lower. The yellow metal’s gain was slight but enough to score a near two-week settlement high, though prices shifted lower in after-hour dealings following the release of the Fed’s latest monetary policy statement.
Gold for December delivery rose $2.40, or 0.16%, to finish at $1,515.80 an ounce on the Comex division of the New York Mercantile Exchange. The close was the highest since Sept. 5. Gold futures ranged from a low of $1,505 to a high of $1,519.50. They edged up 0.1% on Tuesday and advanced 0.8% on Monday.
In electronic trading after the Fed news, gold prices moved toward $1,496 an ounce.
"Gold and silver prices are weaker in afternoon U.S. trading Wednesday, in the wake of the just-released FOMC statement that did not lean as accommodative on U.S. monetary policy as many expected," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
Silver for December delivery declined 22.1 cents, or 1.2%, to settle at $17.919 an ounce. Silver futures traded between $17.65 and $18.12. They gained 0.6% on Tuesday and surged 2.3% on Monday. The precious metal was last near $17.69 an ounce in after-hours trading.
In PGM futures on Wednesday:
October platinum fell $9.60, or 1%, to $934.60 an ounce, ranging from $926.50 to $945.
- Palladium for December delivery declined $15.50, or 1%, to $1,582.20 an ounce, trading between $1,563.20 and $1,599.10. Last Thursday, palladium logged a record settlement at $1,604.80.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold rose $1.40, or 0.09%, to $1,503.50 an ounce.
- Silver added a penny, or 0.06%, to $17.85 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||1,000||0||5,500||2,500||89,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||0||1,000||1,000||24,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||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||0||0||1,500||500||50,000|
|$1 American Eagle 1 Oz Silver Coin||0||675,000||25,000||1,007,000||711,000||12,980,000|
|War in the Pacific 5 Oz Silver Coin||0||2,500||0||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|