Precious metals registered increases on Wednesday that ranged from 0.3% for silver to 1.6% for platinum.
Gold for December delivery gained $11.70, or 0.6%, to settle at $1,954.90 an ounce on the Comex division of the New York Mercantile Exchange.
"We are seeing some cracks in the dollar after the European Central Bank painted a little bit of a rosy picture and gold is moving higher on that," Reuters quoted Bob Haberkorn, senior market strategist at RJO Futures.
Gold futures ranged from a low of $1,926.30 to a high of $1,957.80. They rose 0.5% in starting the holiday-shortened week on Tuesday.
Silver for December delivery added 9.2 cents to close at $27.083 an ounce. Silver futures traded between $26.56 and $27.18. They advanced 1% on Tuesday.
In PGM futures on Wednesday:
-
October platinum climbed $14.60 to $924.90 an ounce, ranging from $899 to $927.30.
- Palladium for December delivery rose $12.40, or 0.5%, to $2,318.20 an ounce, trading between $2,269.90 and $2,326.
London Precious Metals Prices (LBMA)
In comparing London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold rose $36.25, or 1.9%, to $1,947.20 an ounce.
- Silver fell 14 cents, or 0.5%, to $26.535 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion products logged their first gains of the week and month. Advances include a combined 4,000 ounces in gold coins and 1 million ounces in silver coins.
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 | 1,500 | 0 | 42,500 | 107,500 | 104,000** | 540,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 1,000 | 0 | 2,000 | 4,000 | 10,000** | 56,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 2,000 | 0 | 2,000 | 10,000 | 20,000** | 86,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 10,000 | 0 | 0 | 35,000 | 70,000** | 290,000 |
| $50 American Buffalo 1 Oz Gold Coin | 500 | 0 | 7,500 | 30,000 | 28,000** | 184,500 |
| $1 American Eagle 1 Oz Silver Coin | 1,000,000 | 0 | 1,398,000 | 1,084,500 | 4,477,000** | 19,178,000 |
| 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 |
**On Wednesday, the U.S. Mint published adjusted August sales of American Buffalo coins to 28,000 from 22,500; changed August sales of American Silver Eagles to 4,477,000 from 2,593,000; and modified August sales of American Gold Eagles with the 1-ounce size to 104,000 from 86,000; the 1/2-ounce size to 10,000 from 6,000; the 1/4-ounce size to 20,000 from 12,000; and the 1/10-ounce size to 70,000 from 30,000.
The U.S. Mint’s sales accounting system is as antiquated as ancient Sumerian cuneiform tablets! Unbelievable, for the so-called largest Mint in the world…
Where is the U.S. Government’s GAO when you need them to investigate these constant, haphazard, anomalies?
Not to mention, the hiding of old U.S. Mint products that went off sale years ago in Mint & Treasury vaults, against Treasury rules, regulations & protocols & precedents!
Get your act together Mint Director David J. Ryder, as resignation letter day is coming soon, January 20, 2021.
NumisdudeTX