Silver, platinum and palladium declined in the mid-week training session Wednesday. Gold, meanwhile, marked a fresh four-and-a-half-month high and lifted its winning streak to five in a row.
Gold for June delivery tacked on $13.50, or 0.7%, to close at $1,881.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the best since Jan. 7 when gold ended at $1,913.60 an ounce.
"Safe-haven demand was featured in the yellow metal today as the U.S. stock market sold off and risk appetite in the marketplace waned. The gold market bulls stepped in to buy the overnight dip in prices and do some bargain hunting," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures ranged from a low of $1,852.20 to a high of $1,891.30. They edged up 0.02% on Tuesday and they gained 1.6% on Monday.
Silver for May delivery fell 30.8 cents, or 1.1%, to settle at $28.025 an ounce. Silver futures traded between $27.42 and $28.37. They rose 0.2% on Tuesday, for their best finish since Feb. 1, and they soared 3.3% on Monday.
In PGM futures on Wednesday:
July platinum lost $23.70, or 1.9%, to $1,201.60 an ounce, ranging from $1,186.30 to $1,228.80.
- Palladium for June delivery declined $18.30, or 0.6%, to $2,884.80 an ounce, trading between $2,848 and $2,917.50.
US Mint Bullion Sales in 2021
The United States Mint provided updated bullion sales figures for the first time this month.
Gains included 26,400 ounces in American Platinum Eagles; 14,500 ounces in ATB five-ounce silver coins; and a combined 49,500 ounces in American Eagle and Buffalo gold coins. Increases in bullion Platinum Eagles were their first since their release month in March.
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 / May||Last Week||February Sales||March Sales||April Sales||2021 Sales|
|$50 American Eagle 1 Oz Gold Coin||18,500||0||121,000||55,500||38,500||424,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||9,000||0||0||31,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||20,000||0||56,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||55,000||0||150,000|
|$50 American Buffalo 1 Oz Gold Coin||31,000||0||16,000||33,500||11,000||153,000|
|$1 American Eagle 1 Oz Silver Coin||0||0||3,191,500||4,087,000||1,053,000||13,106,500|
|$100 American Eagle 1 Oz Platinum Coin||26,400||0||N/A||35,000||0||61,400|
|Tuskegee Airmen 5 oz Silver Coin||2,900||0||N/A||N/A||50,000||52,900|