Precious metals prices divided Wednesday with platinum and palladium gaining and gold and silver falling. Platinum’s increase was its fifth in a row.
Gold for December delivery lost $11.20, or 0.6%, to settle at $1,873.90 an ounce on the Comex division of the New York Mercantile Exchange.
"Technically, December gold futures bulls have the overall near-term technical advantage. Bulls’ next upside price objective is to produce a close in December futures above solid resistance at $1,900.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at the November low of $1,848.00," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
Gold futures ranged from a low of $1,860.30 to a high of $1,884.20. They shed 0.1% on Tuesday and they rose 0.08% on Monday.
Silver for December delivery fell 20.3 cents, or 0.8%, to settle at $24.448. Silver futures traded between $24.23 and $24.78. They gave back 0.6% on Tuesday and they edged 0.1% higher on Monday.
In PGM futures on Wednesday:
January platinum rose $13.80, or 1.5%, to $950.90 an ounce, ranging from $914.20 to $959.90.
- Palladium for December delivery gained $27.50, or 1.2%, to $2,354 an ounce, trading between $2,310.60 and $2,349.20.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold declined $12.95, or 0.7%, to $1,876.10 an ounce.
- Silver fell 31.5 cents, or 1.3%, to $24.315 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales increased Wednesday by 478,500 ounces in silver coins and by 3,000 ounces in gold 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||Last Week||This Week||September||October||November||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||2,000||7,000||23,500||18,500||64,500||52,500||674,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||1,000||3,000||6,000||3,000||67,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||4,000||2,000||4,000||8,000||10,000||106,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||10,000||5,000||10,000||25,000||30,000||345,000|
|$50 American Buffalo 1 Oz Gold Coin||1,000||1,500||6,000||4,500||19,500||15,000||223,000|
|$1 American Eagle 1 Oz Silver Coin||478,500||1,048,500||276,000||2,958,500||3,397,000||3,456,000||27,989,500|
|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||45,000||0||0||45,000|
|$1 American Eagle 1 Oz Platinum Coin*||0||0||0||0||0||0||56,500|