Precious metals futures posted a second day of across-the-board gains on Wednesday. Gold finished at a more than one-month high.
Gold for December delivery added $14.10, or 0.7%, to settle at $1,929.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was gold’s highest since Sept. 18.
"Support at mid-week comes from a weakening U.S. dollar index that hit a six-week low today. Weaker U.S. stock indexes at midday are also aiding the precious metals markets, which are a competing asset class with equities," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
Gold futures ranged from a low of $1,911.60 to a high of $1,936. They rose 0.2% on Tuesday and they moved up 0.3% on Monday.
Silver for December delivery advanced 26.1 cents, or 1%, to settle at $25.241. The close was silver’s best since Oct. 12. Silver futures traded between $24.77 and $25.43. They added 1.1% on Tuesday and they tacked on 1.2% on Monday.
In PGM futures on Wednesday:
January platinum gained $16.60, or 1.9%, to $893.90 an ounce, ranging from $875.10 to $898.70.
- Palladium for December delivery rose $9.80, or 0.4%, to $2,427.50 an ounce, trading between $2,406.20 and $2,429.70.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold gained $25.75, or 1.4%, to $1,924.15 an ounce.
- Silver added 39 cents, or 1.6%, to $25.02 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||Last Week||This Week||August||September||October||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||10,000||5,500||104,000||18,500||45,000||602,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||2,000||10,000||3,000||5,000||63,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||0||20,000||4,000||4,000||92,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||5,000||70,000||10,000||10,000||300,000|
|$50 American Buffalo 1 Oz Gold Coin||0||5,000||500||28,000||4,500||14,000||202,500|
|$1 American Eagle 1 Oz Silver Coin||0||873,000||724,000||4,477,000||2,958,500||2,423,000||23,559,500|
|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||0||0||45,000|
|Tallgrass Prairie 5 oz Silver Coin*||0||0||0||N/A||45,000||0||45,000|
|$1 American Eagle 1 Oz Platinum Coin*||0||0||0||0||0||0||56,500|