Precious metals moved lower Wednesday, led by platinum which fell 1.6%. Gold’s decline was its first in four sessions and comes on the heels of it scoring a nearly three-week high.
Gold for December delivery gave back $17.50, or 1%, to settle at $1,791 an ounce on the Comex division of the New York Mercantile Exchange.
"There has been a boost in risk appetite and the dollar has also climbed up resulting in some consolidation in the metal," Reuters quoted Bart Melek, head of commodity strategies at TD Securities, adding some investors were also taking profits.
Gold futures ranged from a low of $1,784 to a high of $1,805.30. They edged 0.1% higher on Tuesday, for their highest settlement since Aug. 5, and they rose 1.3% on Monday.
Silver for September delivery shed 11.9 cents, or 0.5%, to settle at $23.775 an ounce. Silver futures traded between $23.59 and $23.89. They climbed 1% on Tuesday and they gained 2.4% on Monday.
In PGM futures on Wednesday:
-
October platinum fell $16.60 to $993.50 an ounce, ranging from $984.70 to $1,009.90.
- Palladium for September delivery declined $11.80, or 0.5%, to $2,430.70 an ounce, trading between $2,420 and $2,480.
US Mint Bullion Sales in 2021
Published 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.
| US Mint Bullion Sales (# of coins) | |||||||
|---|---|---|---|---|---|---|---|
| Wednesday | Last Week | This Week | June | July | August | 2021 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 28,000 | 12,000 | 158,000 | 49,500 | 95,500 | 729,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 21,000 | 0 | 15,000 | 10,000 | 21,000 | 77,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 6,000 | 30,000 | 0 | 6,000 | 92,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 10,000 | 10,000 | 90,000 | 40,000 | 50,000 | 330,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 2,000 | 4,500 | 27,500 | 14,500 | 23,000 | 231,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 824,000 | 740,000 | 2,800,000 | 3,104,000 | 3,145,000 | 22,155,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 0 | 75,000 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 0 | 52,900 |
