Platinum fell on Wednesday while other precious metals gained. Gold’s increase was its first in four sessions and follows a one-month. The yellow metal dropped, however, in after-hour dealings following the release of the Fed’s latest monetary policy statement.
Gold for August delivery rose $5, or 0.3%, to settle at $1,861.40 an ounce on the Comex division of the New York Mercantile Exchange. Gold was last at $1,812.60 an ounce in electronic trading after the FOMC minutes were released.
"Gold prices are solidly lower and hit daily lows and a four-week low in afternoon U.S. trading Wednesday, on a bearish reaction to the just-released statement from the Federal Reserve’s Open Market Committee (FOMC) that was deemed hawkish on U.S. monetary policy," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
Gold futures ranged from a low of $1,845.30 to a high of $1,866. They declined 0.5% on Tuesday, for their lowest settlement since May 14, and they lost 0.7% on Monday.
Silver for July delivery closed up 11.9 cents, or 0.4%, to $27.812 an ounce. Silver futures traded between $27.58 and $27.97. They fell 1.2% on Tuesday and they dipped 0.4% on Monday. The precious metal was last at $27.05 an ounce in after-hours trade.
In PGM futures on Wednesday:
July platinum gave back $6.70, or 0.6%, to $1,141.90 an ounce, ranging from $1,129.20 to $1,155.10.
- Palladium for September delivery advanced $72, or 2.6%, to $2,836.80 an ounce, trading between $2,753.50 and $2,843.
US Mint Bullion Sales in 2021
The United States Mint published no sales gains on Wednesday. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.
|US Mint Bullion Sales (# of coins)|
|Wednesday / This Week||Last Week||March Sales||April Sales||May||June||2021 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||4,000||55,500||38,500||20,500||4,000||430,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||0||0||0||31,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||20,000||0||0||0||56,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||55,000||0||0||0||150,000|
|$50 American Buffalo 1 Oz Gold Coin||0||7,000||33,500||11,000||44,000||7,000||173,000|
|$1 American Eagle 1 Oz Silver Coin||0||0||4,087,000||1,053,000||0||0||13,106,500|
|$100 American Eagle 1 Oz Platinum Coin||0||0||35,000||0||40,000||0||75,000|
|Tuskegee Airmen 5 oz Silver Coin||0||0||N/A||50,000||2,900||0||52,900|