Precious metals rebounded somewhat from their losses on Tuesday. Their gains ranged from less than 0.1% for gold to 2.2% for palladium.
Gold for April delivery rose $1.70, or 0.09%, to settle at $1,835.10 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold is range trading and at the moment testing out support at $1,830," Ross Norman, chief executive officer of Metals Daily, told MarketWatch. "Its price action, while silver rallied, was muted — suggesting sentiment in the broader complex was skeptical of silver. By that I mean the premise that there was a large silver short out there — there isn’t — and the proof of that is that there was no short covering rally."
Gold future ranged from a low of $1,830.10 to a high of $1,845.90. They fell 1.6% on Tuesday and they rose 0.7% on Monday to post their best close since Jan. 21.
Silver for March delivery tacked on 48.7 cents, or 1.8%, to settle at $26.889 an ounce. Silver futures traded between $26.54 and $27.26. They sank 10.3% on Tuesday and they soared 9.3% on Monday, ending at their highest price since Feb. 19, 2013.
In PGM futures on Wednesday:
-
April platinum gained $18.50, or 1.7%, to $1,114.50 an ounce, ranging from $1,099.30 to $1,117.70.
- Palladium for March delivery jumped $48.90 to $2,276.60 an ounce, trading between $2,225.50 and $2,283.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold rose $2.35, or 0.1%, to $1,835.45 an ounce.
- Silver declined 52.5 cents, or 1.9%, to $26.80 an ounce.
US Mint Bullion Sales in 2021
United States Mint bullion sales were increased Wednesday by 50,000 ounces in American Silver 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 | January Sales | 2021 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 59,000 | 16,000 | 48,500 | 191,000 | 207,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 5,000 | 0 | 2,000 | 22,000 | 22,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 8,000 | 0 | 0 | 36,000 | 36,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 0 | 95,000 | 95,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 5,500 | 6,500 | 10,500 | 61,500 | 68,000 |
| $1 American Eagle 1 Oz Silver Coin | 50,000 | 0 | 1,621,000 | 751,000 | 4,775,000 | 6,396,000 |
| America Samoa 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 0 |
| Weir Farm 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 0 |
| Salt River Bay 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 0 |
| Marsh Billings 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 0 |
| Tallgrass Prairie 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 0 |
| $1 American Eagle 1 Oz Platinum Coin* | 0 | 0 | 0 | 0 | 0 | 0 |
