Precious metals prices mixed it up Wednesday with gold and palladium rising and silver and platinum falling. Gold’s gain was its fifth in six sessions.
Gold for April delivery rose $1.50, or 0.1%, to settle at $1,571.60 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold is going to continue to trade range-bound … but the underlying factor that’s supporting gold is the Federal Reserve and the central banks globally, especially when the interest rates have been kept really low," Reuters quoted Ryan McKay, a commodity strategist at TD Securities.
Gold futures ranged from a low of $1,564.40 to a high of $1,573.60. They lost 0.6% on Tuesday and they moved ahead 0.4% on Monday.
Silver for March dropped a dime, or 0.6%, to settle at $17.497 an ounce. Silver futures traded between $17.44 and $17.65. They fell 1.1% on Tuesday and they gained 0.5% on Monday.
In PGM futures on Wednesday:
April platinum declined $6.20, or 0.6%, to $967.30 an ounce, ranging from $957.20 to $975.10.
- Palladium for March delivery gained $56.80, or 2.5%, to $2,322.50 an ounce, trading between $2,241 and $2,327.10. Last Wednesday, palladium logged a record close at $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 declined $16.80, or 1.1%, to $1,553.70 an ounce.
- Silver shed 14.5 cents, or 0.8%, to $17.56 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales were 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.
|US Mint Bullion Sales (# of coins)|
|This Week / February||November||December||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||8,000||2,000||38,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||5,000||0||23,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||0||18,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||60,000|
|$50 American Buffalo 1 Oz Gold Coin||0||5,000||1,500||21,000|
|$1 American Eagle 1 Oz Silver Coin||0||463,000||0||3,846,000|
|$1 American Eagle 1 Oz Platinum Coin||0||463,000||0||14,500|