In futures trading Wednesday, gold gained while silver, platinum and palladium declined. Their pricing changes were modest, aside from platinum which dropped 1.3%.
Gold for December delivery edged up $2.70, or 0.1%, to settle at $1,949 an ounce on the Comex division of the New York Mercantile Exchange.
"The precious metals bulls today stabilized prices after Tuesday’s huge declines. In fact today’s high-range daily closes amid the big daily trading ranges have produced selling ‘exhaustion tails’ on the daily bar charts for gold and silver, to suggest today’s lows are near-term market bottoms," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note.
Gold futures ranged from a low of $1,874.20 to a high of $1,961. They fell 4.6% on Tuesday and they rose 0.6% on Monday. On Thursday, they ended at a record settlement of $2,069.40 an ounce.
Silver for September delivery shed 7 cents, or 0.3%, to close at $25.979 an ounce. Silver futures traded between $23.58 and $26.36. They dropped 11% on Tuesday and they surged 6.3% on Monday — logging their best finish since Feb. 19, 2013.
In PGM futures on Wednesday:
-
October platinum declined $12.20 to $959.20 an ounce, ranging from $930.10 to $979.30.
- Palladium for September delivery moved down $6.80, or 0.3%, to $2,168.20 an ounce, trading between $2,102.20 and $2,210.30.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold fell $7.75, or 0.4%, to $1,931.90 an ounce.
- Silver sank $2.47, or 8.7%, to $25.81 an ounce.
US Mint Bullion Sales in 2020
U.S. Mint bullion sales increased Wednesday by 6,000 ounces in American Gold Eagles and 2,000 ounces in American Silver Eagles.
Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.
| US Mint Bullion Sales (# of coins) | |||||||
|---|---|---|---|---|---|---|---|
| Wednesday | Last Week | This Week | June | July | August | 2020 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 6,000 | 28,500 | 38,000 | 42,500 | 107,500 | 66,500 | 501,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 2,000 | 4,000 | 0 | 45,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 2,000 | 10,000 | 0 | 64,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 0 | 35,000 | 0 | 210,000 |
| $50 American Buffalo 1 Oz Gold Coin | 2,000 | 6,500 | 12,000 | 7,500 | 30,000 | 18,500 | 174,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 918,000 | 675,000 | 1,398,000 | 1,084,500 | 1,593,000 | 15,294,000 |
| America Samoa 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 0 | 45,000 |
| Weir Farm 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 0 | 45,000 |
| Salt River Bay 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 0 | 45,000 |
| Marsh Billings 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 45,000 | 0 | 45,000 |
| $1 American Eagle 1 Oz Platinum Coin* | 0 | 0 | 0 | 0 | 0 | 0 | 56,500 |
