Precious Metals Fall Wed., Dec. 9

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closeup of gold bullion
Gold prices finished 1.9% lower Wednesday, Dec. 9

Precious metals declined Wednesday, registering losses ranging from 1.6% for palladium to 3% for silver. Gold’s loss was its first in three sessions, and after having posted a three-week high on Tuesday.

Gold for February delivery fell $36.40, or 1.9%, to settle at $1,838.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since last Wednesday, Dec. 2.

"There is the anticipation that some of the chaos that has resulted from the pandemic is going to subside (now that) they are beginning to disperse the vaccine in some parts of the world," Reuters quoted Jeffrey Sica, founder of Circle Squared Alternative Investments.

Gold futures ranged from a low of $1,828.20 to a high of $1,875.90. They rose 0.5% on Tuesday — marking their best settlement since Nov. 17, and they gained 1.4% on Monday.

Silver for March delivery tumbled 74.6 cents to close at $23.99 an ounce. The settlement was the lowest since Nov. 30. Silver futures traded between $23.69 and $24.76. They dipped 0.2% on Tuesday and they rose 2.2% on Monday, finishing at their best level since Nov. 16.

In PGM futures on Wednesday:

  • January platinum declined $18.50, or 1.8%, to $1,018.50 an ounce, ranging from $998.10 to $1,042.70.

  • Palladium for March delivery lost $37.30 to $2,290.60 an ounce, trading between $2,275 and $2,333.50.

London Precious Metals Prices (LBMA)

In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:

  • Gold fell $26.40, or 1.4%, to $1,841.75 an ounce.
  • Silver declined 39 cents, or 1.6%, to $24.085 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 October November December 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 12,500 16,000 64,500 77,000 22,500 721,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 6,000 4,000 0 68,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 8,000 10,000 0 106,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 0 25,000 35,000 0 350,000
$50 American Buffalo 1 Oz Gold Coin 0 7,500 1,000 19,500 23,500 5,500 237,000
$1 American Eagle 1 Oz Silver Coin 0 800,000 475,000 3,397,000 4,805,000 751,000 30,089,500
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 0 0 0 45,000
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 0 56,500

 

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