Precious metals mixed it up Wednesday with gold and palladium declining and silver and platinum gaining.
Gold for June delivery moved down $11.30, or 0.7%, to settle at $1,736.30 an ounce on the Comex division of the New York Mercantile Exchange.
"Technically, June gold futures bears have the overall near-term technical advantage but recent price action does suggest a market bottom is in place and that prices can trade at least sideways in the near term. Bulls’ next upside price objective is to produce a close above solid resistance at $1,800.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $1,700.00," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures ranged from a low of $1,732.30 to a high of $1,750.70. They gained 0.9% on Tuesday and they fell 0.7% on Monday.
Silver for May delivery added 9.8 cents, or 0.4%, to end at $25.524 an ounce. Silver futures traded between $25.23 and $25.59. They surged 2.3% on Tuesday and they lost 1.8% on Monday.
In PGM futures on Wednesday:
July platinum added $20.30, or 1.8%, to $1,177.40 an ounce, ranging from $1,158.10 to $1,188.
- Palladium for June delivery declined $17.50, or 0.7%, to $2,679.40 an ounce, trading between $2,667 and $2,700.
US Mint Bullion Sales in 2021
United States Mint bullion sales increased Wednesday by 3,000 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||February Sales||March Sales||April Sales||2021 Sales|
|$50 American Eagle 1 Oz Gold Coin||3,000||13,000||6,500||121,000||55,500||19,500||387,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||9,000||0||0||31,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||0||20,000||0||56,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||0||55,000||0||150,000|
|$50 American Buffalo 1 Oz Gold Coin||0||3,500||5,000||16,000||33,500||8,500||119,500|
|$1 American Eagle 1 Oz Silver Coin||0||596,000||367,000||3,191,500||4,087,000||963,000||13,016,500|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||N/A||35,000||0||35,000|
|Tuskegee Airmen 5 oz Silver Coin||0||50,000||0||N/A||N/A||50,000||50,000|
|$1 American Eagle 1 Oz Platinum Coin*||0||0||0||0||0||0||0|