Gold Logs Fourth Gain; Platinum Marks Highest Finish in 6 Years

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Prices for silver declined on Wednesday while those for gold, platinum and palladium gained. Platinum scored a six-year settlement high. Gold’s increase was its fourth in a row.

Gold for April delivery moved up $5.20, or 0.3%, to $1,842.70 an ounce on the Comex division of the New York Mercantile Exchange. The finish was gold’s highest since Feb 1.

"Gold futures prices are modestly higher at midday Wednesday, supported by positive outside markets that include a weaker U.S. dollar index and higher crude oil prices. Silver prices are weaker," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note. "The two precious metals markets have stabilized so far this week, but traders are still looking for the next catalyst to break prices out of their near-term trading ranges."

Gold futures ranged from a low of $1,834 to a high of $1,856.60. They gained 0.2% on Tuesday and they climbed 1.2% on Monday.

Silver for March delivery fell 32.4 cents, or 1.2%, to settle at $27.078 an ounce. Silver futures traded between $26.88 and $27.60. They declined 0.6% on Tuesday and they surged 2.1% on Monday.

In PGM futures on Wednesday:

  • April platinum rallied $52.50, or 4.4%, to $1,246.90 an ounce, ranging from $1,190.40 to $1,264.70. The settlement was the highest since Feb. 5, 2015 when the precious metal ended at $1,249.70.

  • Palladium for March delivery tacked on $31.90, or 1.4%, to $2,352.50 an ounce, trading between $2,316 and $2,387.

London Precious Metals Prices (LBMA)

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

  • Gold added $3.05, or 0.2%, to $1,842.65 an ounce.
  • Silver declined 40.5 cents, or 1.5%, to $27.23 an ounce.

US Mint Bullion Sales in 2021

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 December January Sales February 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 64,500 7,000 48,500 191,000 71,500 262,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 2,000 22,000 0 22,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 0 36,000 0 36,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 0 95,000 0 95,000
$50 American Buffalo 1 Oz Gold Coin 0 9,000 500 10,500 61,500 9,500 71,000
$1 American Eagle 1 Oz Silver Coin 0 1,621,000 500,000 751,000 4,775,000 2,121,000 6,896,000
America Samoa 5 oz Silver Coin* 0 0 0 0 0 0 0
Weir Farm 5 oz Silver Coin* 0 0 0 0 0 0 0
Salt River Bay 5 oz Silver Coin* 0 0 0 0 0 0 0
Marsh Billings 5 oz Silver Coin* 0 0 0 0 0 0 0
Tallgrass Prairie 5 oz Silver Coin* 0 0 0 0 0 0 0
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 0 0
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Jake

To have a hobby in arithmetic is priceless.

Jake

No really kitco is a bunch of hacks.