Precious metals futures advanced Wednesday. Gains in gold, silver and platinum were their first in five sessions. On Tuesday, gold and silver closed at more than three-month lows. Palladium, meanwhile, moved ahead for a second day in a row.
Gold for December delivery rose $9.60, or 0.7%, to settle at $1,463.30 an ounce on the Comex division of the New York Mercantile Exchange.
"The precious metals are seeing some safe-haven demand at mid-week, along with some short covering in the futures markets, from the shorter-term traders, following recent selling pressure," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
Gold futures ranged from a low of $1,456.40 to a high of $1,467.60. They declined 0.2% Tuesday, ending at their worst level since Aug. 1, and they shed 0.4% on Monday.
Silver for December delivery tacked on 22.1 cents, or 1.3%, to close at $16.913 an ounce. Silver futures traded between $16.72 and $17. They fell 0.7% on Tuesday, for their lowest settlement since Aug. 6, and they dipped 0.1% on Monday.
In PGM futures on Wednesday:
-
January platinum settled up $4.90, or 0.6%, to $874.80 an ounce, ranging from $869.60 to $879.70.
- Palladium for December delivery added $5, or 0.3%, to $1,675.10 an ounce, trading between $1,661 and $1,698.20.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold rose $10.85, or 0.8%, to $1,462.90 an ounce.
- Silver gained 21.5 cents, 1.3%, to $16.95 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 posted their first gains of the week. The Mint’s gold coins rose by a combined 9,000 ounces and its silver coins rose by 65,000 ounces.
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 | October | November | 2019 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 5,000 | 0 | 8,000 | 5,000 | 103,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 3,000 | 2,000 | 1,000 | 5,000 | 30,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 4,000 | 0 | 34,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 20,000 | 0 | 190,000 |
| $50 American Buffalo 1 Oz Gold Coin | 2,500 | 0 | 3,000 | 2,500 | 57,500 |
| $1 American Eagle 1 Oz Silver Coin | 65,000 | 165,000 | 1,110,500 | 230,000 | 14,630500 |
| San Antonio Missions 5 Oz Silver Coin | 0 | 0 | 17,500 | 0 | 55,200 |
| War in the Pacific 5 Oz Silver Coin | 0 | 0 | 500 | 0 | 72,500 |
| American Memorial Park 5 Oz Silver Coin* | 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 | |||
