Gold Rises 0.6%; Silver Gains For Third Day

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Stack of bullion American Gold Eagles-jan-13-21
Gold futures advanced 0.6% on Wednesday. Jan. 13. U.S. Mint sales of bullion American Gold Eagles also increased.

Precious metals climbed Wednesday, registering gains ranging from 0.5% for silver to 4% for platinum. Silver’s increase was its third straight.

Gold for February delivery rose $10.70, or 0.6%, to settle at $1,854.90 an ounce on the Comex division of the New York Mercantile Exchange. Gold saw some support, opined analysts, after the Labor Department said consumer prices increased last month.

"It shows that there’s a slight uptick in inflation, which is always supportive of gold," Reuters quoted Bob Haberkorn, senior market strategist at RJO Futures.

U.S. consumer prices rose 0.4% in December following a 0.2% increase in November. However, across the longer haul, inflation at 1.4% in 2020 was the lowest for a year since 2015.

Gold futures ranged from a low of $1,849.10 to a high of $1,863. They gave back 0.4% on Tuesday and they rose 0.8% on Monday.

Silver for March delivery added 13.7 cents to settle at $25.572 an ounce. Silver futures traded between $25.17 and $25.79. They picked up 0.6% on Tuesday and they surged 2.6% on Monday.

In PGM futures on Wednesday:

  • April platinum tacked on $42.90 to $1,110.70 an ounce, ranging from $1,067 to $1,113.10.

  • Palladium for March delivery gained $20.90, or 0.9%, to $2,397.10 an ounce, trading between $2,378.50 and $2,409.

London Precious Metals Prices (LBMA)

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

  • Gold gained $17.60, or 1%, to $1,858.85 an ounce.
  • Silver declined 19 cents, or 0.7%, to $25.335 an ounce.

US Mint Bullion Sales in 2021

United States Mint bullion sales increased Wednesday by 20,000 ounces in American Gold Eagles.

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 December 2020 Sales 2021 Sales
$50 American Eagle 1 Oz Gold Coin 20,000 43,500 44,500 48,500 747,500 88,000
$25 American Eagle 1/2 Oz Gold Coin 0 17,000 0 2,000 70,000 17,000
$10 American Eagle 1/4 Oz Gold Coin 0 22,000 6,000 0 106,000 28,000
$5 American Eagle 1/10 Oz Gold Coin 0 60,000 35,000 0 350,000 95,000
$50 American Buffalo 1 Oz Gold Coin 0 20,500 6,000 10,500 242,000 26,500
$1 American Eagle 1 Oz Silver Coin 0 2,800,000 1,875,000 751,000 30,089,500 4,675,000
America Samoa 5 oz Silver Coin* 0 0 0 0 45,000 0
Weir Farm 5 oz Silver Coin* 0 0 0 0 45,000 0
Salt River Bay 5 oz Silver Coin* 0 0 0 0 45,000 0
Marsh Billings 5 oz Silver Coin* 0 0 0 0 45,000 0
Tallgrass Prairie 5 oz Silver Coin* 0 0 0 0 45,000 0
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 56,500 0

 

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