Precious metals futures declined Wednesday, logging losses that ranged from 0.8% for both gold and silver to 6.3% for palladium.
Gold for December delivery fell $14.80 to settle at $1,861.60 an ounce on the Comex division of the New York Mercantile Exchange.
Gold is "still trading above the critical support area of $1,850, but the price needs to cross above the $1,900 mark in order for it to convince traders that there is more juice left in this trade," MarketWatch quoted Naeem Aslam, chief market analyst at AvaTrade.
Gold futures ranged from a low of $1,853.90 to a high of $1,882.50. They gained 1.2% on Tuesday and they dropped 6% on Monday, registering their lowest settlement since July 21.
Silver for December delivery shed 19.5 cents to settle at $24.267. Silver futures traded between $23.81 and $24.51. They surged 3.2% on Tuesday and they tumbled 7.6% on Monday, posting their weakest close since Oct. 30.
In PGM futures on Wednesday:
January platinum lost $24.60, or 2.8%, to $868.10 an ounce, ranging from $859.10 to $893.50.
- Palladium for December delivery sank $154.60 to $2,316.80 an ounce, trading between $2,310.20 and $2,479.40.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold declined $17.75, or 0.9%, to $1,860.95 an ounce.
- Silver rose 1.5 cents, or 0.06%, to $24.21 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||September||October||November||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||22,000||7,000||18,500||64,500||29,000||651,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||1,000||3,000||6,000||2,000||66,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||4,000||4,000||4,000||8,000||8,000||104,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||15,000||10,000||10,000||25,000||25,000||340,000|
|$50 American Buffalo 1 Oz Gold Coin||0||7,500||1,500||4,500||19,500||9,000||217,000|
|$1 American Eagle 1 Oz Silver Coin||0||1,653,000||1,048,500||2,958,500||3,397,000||2,701,500||27,235,000|
|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||0||0||45,000|
|Tallgrass Prairie 5 oz Silver Coin*||0||0||0||45,000||0||0||45,000|
|$1 American Eagle 1 Oz Platinum Coin*||0||0||0||0||0||0||56,500|