Precious metals futures divided Wednesday with platinum and palladium rising and gold and silver falling — albeit very modestly.
Gold for December delivery edged 10 cents, or 0.01%, lower to settle at $1,474.20 an ounce on the Comex division of the New York Mercantile Exchange.
"Technically, December gold futures bears still have the slight overall near-term technical advantage as prices have been trending lower for 2.5 months," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note. " Gold bulls’ next upside near-term price breakout objective is to produce a close above solid technical resistance at $1,500.00. Bears’ next near-term downside price breakout objective is pushing prices below solid technical support at $1,425.00."
Gold futures ranged from a low of $1,466.10 to a high of $1,479.20. They climbed 0.2% on Tuesday and on Monday.
Silver for December delivery shed less than a half cent, or 0.02%, to settle at $17.115 an ounce. Silver futures traded between $17 and $17.19. They gained 0.7% on Tuesday and they rose 0.3% on Monday.
In PGM futures on Wednesday:
January platinum tacked on $7.70, or 0.8%, to $920 an ounce, ranging from $908.70 to $921.
- Palladium for December delivery rose $4.40, or 0.3%, to $1,741.80 an ounce, trading between $1,721.40 and $1,747.80.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold added $3.25, or 0.2, to $1,471.70 an ounce.
- Silver dipped a penny, or 0.06%, to $17.115 an ounce.
In LBMA results last week, gold climbed 0.2% and silver rose 0.4%.
US Mint 2019 Bullion Sales
U.S. 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||October||November||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||5,000||3,000||8,000||8,000||106,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||3,000||0||1,000||5,000||30,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||4,000||2,000||36,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||20,000||0||190,000|
|$50 American Buffalo 1 Oz Gold Coin||0||2,500||2,500||3,000||5,000||60,000|
|$1 American Eagle 1 Oz Silver Coin||0||65,000||233,000||1,110,500||463,000||14,863,500|
|Frank Church River of No Return Wilderness 5 Oz Silver Coin||0||N/A||13,500||N/A||13,500||13,500|
|San Antonio Missions 5 Oz Silver Coin||0||0||0||17,500||0||55,200|
|War in the Pacific 5 Oz Silver Coin||0||0||0||500||0||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|