Precious metals traded higher Wednesday. Their gains ranged from 0.6% for gold to 1.5% for both platinum and palladium. Gold ended at an almost two-month high.
Gold for February delivery tacked on $10.50 to settle at $1,893.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Nov. 6 when gold ended at $1,951.70 an ounce.
"The bigger picture is that gold is still holding up incredibly well at these price levels and the fiscal and monetary stimulus will still be there in 2021 as the pandemic is hitting hard in the U.S., Europe," Reuters quoted Bank of China International analyst Xiao Fu.
Gold futures ranged from a low of $1,879.50 to a high of $1,896.30. They edged up 0.1% on Tuesday and they shed 0.2% on Monday.
Silver for March delivery advanced 35.6 cents, or 1.4%, to settle at $26.573 an ounce. The settlement was silver’s best since it closed Sept. 18 at $27.129 an ounce. Silver futures traded between $26.26 and $26.68. They fell 1.2% on Tuesday and they surged 2.4% on Monday.
In PGM futures on Wednesday:
April platinum finished up $15.90 to $1,078.50 an ounce, ranging from $1,060.50 to $1,081.80.
- Palladium for March delivery gained $34.10 to $2,378.40 an ounce, trading between $2,334 and $2,385.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold added $13.30, or 0.7%, to $1,887.60 an ounce.
- Silver rose 15.5 cents, or 0.6%, to $26.305 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||4,000||2,000||64,500||77,000||48,500||747,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||2,000||0||6,000||4,000||2,000||70,000|
|$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||2,000||0||19,500||23,500||10,500||242,000|
|$1 American Eagle 1 Oz Silver Coin||0||0||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|