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|