Precious metals futures reclaimed some of their prior losses Wednesday. Gains ranged from 0.1% for platinum to 0.8% for palladium.
Gold for December delivery rose $9.40, or 0.6%, to settle at $1,493.10 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold prices are moderately higher at midday Wednesday, on an upside correction after suffering sharp losses Tuesday. Rallying world stock markets that saw the U.S. indexes score record highs on Tuesday continue to squelch buying interest in the safe-haven metals," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note. "However, the U.S. stock indexes are seeing a mild pullback today, which is encouraging some bargain hunting in the gold market."
Gold futures ranged from a low of $1,483.80 to a high of $1,495.90. They fell 1.8% on Tuesday — closing at their lowest level since Oct. 15, and they dipped 0.02% on Monday.
Silver for December delivery added 3 cents, or 0.2%, to close at $17.598 an ounce. Silver futures traded between $17.36 and $17.63. They tumbled 2.8% on Tuesday — finishing at their weakest point since Oct. 22, and they edged 0.08% higher on Monday.
In PGM futures Wednesday:
January platinum rose $1.10 to $931.70 an ounce, ranging from $925.90 to $936.90.
- Palladium for December delivery gained $14.40 to $1,761.10 an ounce, trading between $1,739 and $1,772.90. Last Wednesday, palladium posted a record settlement of $1,792.10 an ounce.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold declined $2.90, or 0.2%, to $1,486.05 an ounce.
- Silver dropped 50.5 cents, or 2.8%, to $17.54 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 Wednesday. 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 / November||September||October||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||0||0||3,500||8,000||98,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||2,000||1,000||1,000||27,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||2,000||4,000||34,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||10,000||20,000||190,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||0||2,500||3,000||55,000|
|$1 American Eagle 1 Oz Silver Coin||0||167,000||165,000||1,021,000||1,110,500||14,565,500|
|San Antonio Missions 5 Oz Silver Coin||0||0||0||37,700||17,500||55,200|
|War in the Pacific 5 Oz Silver Coin||0||0||0||2,500||500||72,500|
|American Memorial Park 5 Oz Silver Coin*||0||0||0||0||0||80,000|
|Lowell 5 Oz Silver Coin*||N/A||80,000|
|$100 American Eagle 1 Oz Platinum Coin*||N/A||40,000|