Gold Edges Higher Wed., Aug. 12

by CoinNews.net on August 12, 2020 · 0 comments

Nine Gold Bullion Bars

Gold futures rose 0.1% on Wednesday, Aug. 12

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

 

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