Gold and palladium were little changed Wednesday, each rising a modest 0.04%, while silver and platinum declined 1.8% and 1.5%, respectively.
Gold for June delivery inched up 60 cents to settle at $1,684.30 an ounce on the Comex division of the New York Mercantile Exchange.
"As countries and federal governments stimulate their economies with helicopter money, stimulus programs – it’s a printing press of money supply, which is generally a very favorable environment for gold," Reuters quoted David Meger, director of metals trading at High Ridge Futures.
Gold futures ranged from a low of $1,670.70 to a high of $1,693.10. They declined 0.6% on Tuesday and they gained 2.9% on Monday — ending at their highest settlement since Dec. 17, 2012.
Silver for March delivery fell 27.5 cents to settle at $15.205 an ounce. Silver futures traded between $15.11 and $15.45. They climbed 2.1% on Tuesday — ending at their best price since March 6, and they rallied 4.7% on Monday.
In PGM futures on Wednesday:
July platinum declined $11.40 to $733.60 an ounce, ranging from $725.70 to $760.20.
- Palladium for June delivery rose 90 cents to $2,095.20 an ounce, trading between $2,072 and $2134.90.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold declined $1.45, or 0.09%%, to $1,647.80 an ounce.
- Silver dipped a cent, or 0.07%, to $15.065 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales increased Wednesday by 6,000 ounces in American Gold Eagles. 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)|
|Wednesday||Last Week||This Week||January||February||March||April||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||6,000||43,000||12,000||38,000||3,500||133,000||45,500||220,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||23,000||2,000||8,000||0||33,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||18,000||2,000||20,000||0||40,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||60,000||20,000||95,000||0||175,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||0||21,000||1,000||47,500||0||69,500|
|$1 American Eagle 1 Oz Silver Coin||0||650,000||350,000||3,846,000||650,000||5,482,500||350,000||10,328,500|
|$1 American Eagle 1 Oz Platinum Coin||0||25,000||0||14,500||9,300||31,200||0||55,000|