Precious metals futures changed little Wednesday. Silver climbed while and gold, platinum and palladium declined.
Gold for August delivery shed 90 cents, or 0.05%, to settle at $1,735.60 an ounce on the Comex division of the New York Mercantile Exchange.
"Technically, August gold futures bulls still have the firm overall near-term technical advantage but trading has returned to a choppy and sideways pattern at higher levels. Longer term, such action could be storing energy for another leg up in prices in the coming weeks or months," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
Gold futures ranged from a low of $1,717.30 to a high of $1,739.30. They rose 0.5% on Tuesday and they fell 0.6% on Monday.
Silver for July delivery added 12.3 cents, or 0.7%, to settle at $17.775 an ounce. Silver futures traded between $17.51 and $17.82. They gained 1.5% on Tuesday and they declined 0.5% on Monday.
In PGM futures on Wednesday:
July platinum declined $5.70, or 0.7%, to $838.20 an ounce, ranging from $825.70 to $845.60.
- Palladium for September delivery fell $17.20, or 0.9%, to $1,925.50 an ounce, trading between $1,898.30 and $1,948.20.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold added $4.50, or 0.3%, to $1,724.35 an ounce.
- Silver rose 6 cents, or 0.3%, to $17.47 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales were unchanged Wednesday. 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||April||May||June||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||25,500||8,500||105,000||5,500||36,500||321,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||1,000||0||6,000||2,000||41,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||0||12,000||2,000||54,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||0||0||0||175,000|
|$50 American Buffalo 1 Oz Gold Coin||0||3,500||500||28,500||2,500||4,500||123,000|
|$1 American Eagle 1 Oz Silver Coin||0||0||457,000||750,000||490,000||907,000||12,125,500|
|$1 American Eagle 1 Oz Platinum Coin||0||0||0||1,500||0||0||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.