For a third straight session Wednesday, platinum gained as gold and silver declined. Palladium also advanced on the day, its first increase in four sessions. Losses in gold and silver were actually their fourth in a row.
Gold for June delivery declined $8.80, or 0.5%, to settle at $1,713.40 an ounce on the Comex division of the New York Mercantile Exchange.
"You just have the risk-on sentiment from U.S. equity markets… I think there’s some profit taking in gold right now and a lot of people are getting repositioned for the next flight up in gold," Reuters quoted Michael Matousek, head trader at U.S. Global Investors.
Gold futures ranged from a low of $1,708.20 to a high of $1,728.80. They shed 0.09% on Tuesday and they lost 0.7% on Monday.
Silver for July delivery gave back 1.3 cents, or 0.08%, to close at $15.315 an ounce. Silver futures traded between $15.23 and $15.59. They lot 0.08% on Tuesday and they declined 0.4% on Monday.
In PGM futures on Wednesday:
July platinum rose $4, or 0.5%, to $799.60 an ounce, ranging from $792.20 to $829.50.
- Palladium for June delivery tacked on $38.70, or 2.1%, to $1,917.40 an ounce, trading between $1,888.10 and $1,974.50.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold rose $11.80, or 0.7%, to $1,703.35 an ounce.
- Silver added 2 cents, or 0.1%, to $15.165 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales advanced by a combined 4,500 ounces in gold coins. 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||2,500||36,000||11,500||38,000||3,500||133,000||104,000||278,500|
|$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||2,000||12,000||9,500||21,000||1,000||65,500||27,500||115,000|
|$1 American Eagle 1 Oz Silver Coin||0||0||400,000||3,846,000||650,000||5,482,500||750,000||10,728,500|
|$1 American Eagle 1 Oz Platinum Coin||0||0||0||14,500||9,300||31,200||1,500||56,500|
In terms of 5-ounce silver bullion sales for 2020, the U.S. Mint is working on getting them automated and reported. Initial U.S. Mint-provided figures have the first two 2020-dated pieces at 45,000 produced and sold per issue. These amounts are being verified.