Precious metals posted loses Wednesday that ranged from 1.7% for gold to 5.1% for platinum. Gold’s loss was its first in four sessions.
Gold for December delivery fell $34.20 to settle at $1,944.70 an ounce on the Comex division of the New York Mercantile Exchange.
"Bullion’s decline is proportional to the recovery of the greenback, confirming that the current movement is mostly related to what is happening on the currency markets," MarketWatch quoted Carlo Alberto De Casa, chief analyst at ActivTrades. "In other words, the main trend for gold remains positive and a clear surpass of $1,990 and then $2,005 would open space for further rallies," he wrote.
Gold futures ranged from a low of $1,938.90 to a high of $1,980.40. They inched up 0.02% on Tuesday — registering their best settlement since Aug. 19, and they climbed 0.2% on Monday.
Silver for September delivery sank $1.25, or 4.4%, to close at $27.395 an ounce. Silver futures traded between $27.27 and $28.54. They rose nearly 0.2% on Tuesday and they surged 2.9% on Monday.
In PGM futures on Wednesday:
October platinum fell $48.60 to $904.10 an ounce, ranging from $899.40 to $953.20.
- Palladium for December delivery declined $43.60, or 1.9%, to $2,267.50 an ounce, trading between $2,261.20 and $2,307.80.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold declined $25.30, or 1.3%, to $1,947.05 an ounce.
- Silver dropped $1.18, or 4.1%, to $27.705 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. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Wednesday / This Week / Sept.||Last Week||June||July||August||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||0||42,500||107,500||86,000||521,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||2,000||4,000||6,000||51,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||10,000||12,000||76,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||35,000||30,000||240,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||7,500||30,000||22,500||178,500|
|$1 American Eagle 1 Oz Silver Coin||0||0||1,398,000||1,084,500||2,593,000||16,294,000|
|America Samoa 5 oz Silver Coin*||0||0||0||0||0||45,000|
|Weir Farm 5 oz Silver Coin*||0||0||0||0||0||45,000|
|Salt River Bay 5 oz Silver Coin*||0||0||0||0||0||45,000|
|Marsh Billings 5 oz Silver Coin*||0||0||0||45,000||0||45,000|
|$1 American Eagle 1 Oz Platinum Coin*||0||0||0||0||0||56,500|