Gold Gains; Silver Marks an Almost 6-Week High

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Gold bullion, Three Bars
Gold prices climbed 0.2% on Wednesday, Dec. 16

Gold, silver and palladium padded their prior-day gains Wednesday, following their declines on Monday, while platinum logged a modest loss.

Gold for February delivery rose $3.80, or 0.2%, to settle at $1,859.10 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Tuesday, Dec. 8.

"Precious metals bulls at mid-week are focusing on the prospects of more liquidity in the global marketplace sparking better consumer demand for metals, including the specter of problematic price inflation from all the monetary stimulus," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,848.80 to a high of $1,869.50. They added 1.3% on Tuesday and they slipped 0.6% on Monday, marking their lowest settlement since Dec. 2.

Silver for March delivery tacked on 40.8 cents, or 1.7%, to close at $25.052 an ounce. The close was silver’s highest since Nov. 6. Silver futures traded between $24.57 and $25.49. They jumped 2.5% on Tuesday and they retreated 0.2% on Monday.

In PGM futures on Wednesday:

  • January platinum lost $3.90, or 0.4%, to $1,035.40 an ounce, ranging from $1,026.10 to $1,058.40.

  • Palladium for March delivery added $24.20, or 1%, to $2,348.20 an ounce, trading between $2,316 and $2,357.50.

London Precious Metals Prices (LBMA)

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

  • Gold rose $1.30, or 0.07%, to $1,851.95 an ounce.
  • Silver surged 91.5 cents, or 3.8%, to $25.13 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 24,000 5,000 64,500 77,000 35,500 734,500
$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 0 0 25,000 35,000 0 350,000
$50 American Buffalo 1 Oz Gold Coin 0 2,500 0 19,500 23,500 7,000 238,500
$1 American Eagle 1 Oz Silver Coin 0 475,000 0 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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