Precious metals registered across-the-board losses for a second straight session on Wednesday. The setbacks ranged from 0.3% for gold to 4.9% for palladium.
Gold for December delivery shed $5 to settle at $1,793.50 an ounce on the Comex division of the New York Mercantile Exchange.
Gold and silver prices declined "on some follow-through selling pressure from sharp losses seen Tuesday. A higher U.S. dollar index this week is a negative outside market force working against the metals," said Jim Wyckoff, senior analyst at Kitco Metals.
Gold futures ranged from a low of $1,783.10 to a high of $1,804.40. They gave back 1.9% in their start to the trading week on Tuesday.
Silver for December delivery declined 31.7 cents, or 1.3%, to close at $24.056 an ounce. Silver futures traded between $23.94 and $24.48. They fell 1.7% on Tuesday.
In PGM futures on Wednesday:
-
October platinum fell $19.80, or 2%, to $976.10 an ounce, ranging from $971 to $1,003.80.
- Palladium for December delivery dropped $116.20 to $2,237.30 an ounce, trading between $2,206.50 and $2,380.50.
US Mint Bullion Sales in 2021
The United States Mint published bullion sales for the first time this month. Posted gains include 750,000 ounces in American Silver Eagles; 5,000 ounces in American Gold Buffalos; and a combined 10,000 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.
| US Mint Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Wednesday / Week / September | Last Week | June | July | August | 2021 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 9,500 | 11,500 | 158,000 | 49,500 | 112,000 | 755,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 15,000 | 10,000 | 21,000 | 77,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 28,000 | 30,000 | 0 | 34,000 | 120,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 5,000 | 0 | 90,000 | 40,000 | 50,000 | 335,000 |
| $50 American Buffalo 1 Oz Gold Coin | 8,000 | 4,500 | 27,500 | 14,500 | 27,500 | 243,500 |
| $1 American Eagle 1 Oz Silver Coin | 750,000 | 750,000 | 2,800,000 | 3,104,000 | 3,930,000 | 23,690,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 75,000 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 52,900 |
