Gold and Silver Little Changed Wed., Jan. 29

Gold Bullion Bars, Three
Gold futures rose less than 0.1% on Wednesday, Jan. 28

Gold, silver and palladium futures advanced Wednesday while platinum declined. Gains in gold and silver were modest.

Gold for February delivery edged up 60 cents, or 0.04%, to settle at $1,570.40 an ounce on the Comex division of the New York Mercantile Exchange.

"Even if prevailing (coronavirus ) concerns fade … gold is likely to continue benefiting from supportive central bank policies," analysts at Zaner Metals wrote in a daily note reported by MarketWatch. And looking further ahead, "we expect global slowdown concerns to re-emerge, which should lead to rising volatility in equity markets and, in turn, encourage higher allocations into gold and other precious metals."

Gold futures ranged from a low of $1,562 to a high of $1,573.90. They declined 0.5% on Tuesday and they rose 0.4% on Monday, marking their highest close since April 9, 2013.

Silver for March delivery rose 2.9 cents, or 0.2%, to settle at $17.487 an ounce. Silver futures traded between $17.28 and $17.52. They tumbled 3.3% on Tuesday and they lost 0.3% on Monday.

In PGM future prices on Wednesday:

  • April platinum fell $19.70, or 2%, to $975.30 an ounce, ranging from $974.10 to $1,000.30.

  • Palladium for March delivery gained $17.10, or 0.8%, to $2,202.20 an ounce, trading between $2,171.90 and $2,233.80. Last Wednesday, palladium scored a record settlement of $2,335.60 an ounce.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:

  • Gold dipped 55 cents, or less than 0.1%, to $1,573.45 an ounce.
  • Silver dropped 50.5 cents, or 2.8%, to $17.47 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales remained unchanged according to available figures from the Mint’s website. 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 / This Week November December 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 8,000 2,000 19,500
$25 American Eagle 1/2 Oz Gold Coin* 0 5,000 0 13,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 14,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 45,000
$50 American Buffalo 1 Oz Gold Coin 0 5,000 1,500 10,500
$1 American Eagle 1 Oz Silver Coin 0 463,000 0 2,298,000


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why did the mint raise its price on platinum proofs by $125 an ounce when the week average price of platinum should have dropped the price per ounce by $50? platinum is going down and the mint raises it price by a bunch..