Precious metals have been riding a mini roller coaster so far this week, rising on Monday, dipping on Tuesday, and then returning for gains on Wednesday.
Gold for August delivery inched up 40 cents, or 0.02%, to settle at $1,813.80 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold is wavering around the $1,800 mark in a manner that could be viewed as both bullish and bearish, depending on how you view it," wrote Craig Erlam, senior market analyst at Oanda, in a Wednesday note according to MarketWatch.
Gold futures ranged from a low of $1,804 to a high of $1,819.50. They slipped 0.04% on Tuesday and they rose 0.7% on Monday. Last Wednesday they ended at $1,820.60 an ounce for their highest settlement since Sept. 14, 2011.
Silver for September delivery advanced 23.1 cents, or 1.2%, to settle at $19.761 an ounce. Silver futures traded between $19.52 and $19.85. They shed 1.3% on Tuesday and they rallied 3.9% on Monday — marking their highest finish since Sept. 23, 2016, when the precious metal ended at $19.81 an ounce.
In PGM futures on Wednesday:
October platinum rose $6.40, or 0.8%, to $843.20 an ounce, ranging from $835 to $852.80.
- Palladium for September delivery gained $24.40, or 1.2%, to $2,010 an ounce, trading between $1,975.30 and $2,014.60.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold rose $2.70, or 0.2%, to $1,804.60 an ounce.
- Silver gained 43.5 cents, or 2.3%, to $19.33 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||May||June||July||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||8,500||5,000||5,500||42,500||13,500||341,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||6,000||2,000||0||41,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||0||12,000||2,000||2,000||56,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||0||0||0||175,000|
|$50 American Buffalo 1 Oz Gold Coin||0||5,000||0||2,500||7,500||5,000||131,000|
|$1 American Eagle 1 Oz Silver Coin||0||0||0||490,000||1,378,000||0||12,596,500|
|$1 American Eagle 1 Oz Platinum Coin||0||0||0||0||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.