Precious metals climbed as a group for a second straight session Wednesday. Gains ranged from 0.5% for gold to 3% for palladium. Palladium posted a fresh record. Gold ended near a 7-year high. Silver closed at a more than 6-week high.
Gold for April delivery gained $8.20 to settle at $1,611.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since March 21, 2013 when gold finished at $1,613.80 an ounce.
"The big wave of risk-off has sort of dissipated right now, but still the economic fallout is buttressing the demand for gold," Reuters quoted Stephen Innes, chief market strategist at AxiCorp.
Gold futures ranged from a low of $1,602.40 to a high of $1,615.90. They rose 1.1% in their start to the holiday-shortened trading week on Tuesday.
Silver for March delivery added 16.1 cents, or 0.9%, to close at $18.311 an ounce. The finish was the highest since Jan. 7 when the metal ended at $18.393 an ounce. Silver futures traded between $18.13 and $18.45. They surged 2.4% on Tuesday.
In PGM futures prices on Wednesday:
April platinum moved ahead $10.60, or 1.1%, to $1,004.50 an ounce, ranging from $993.90 to $1,021.
- Palladium for March delivery surged $73.60 to a record settlement of $2,571.20 an ounce. Palladium traded between $2,537 and $2,755.90.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold rose $14.35, or 0.9%, to $1,604.20 an ounce.
- Silver jumped 46 cents, or 2.6%, to $18.345 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|