Precious metals registered losses Wednesday that ranged from 0.8% for gold to 4.4% for silver. Gold, silver and palladium also marked multi-month settlement lows.
Gold for December delivery fell $14.60 to settle at $1,722.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the weakest since gold ended March 31 at $1,715.60 an ounce.
"Technically, December gold futures bears have the firm overall near-term technical advantage. A three-week-old price downtrend is in place on the daily bar chart. Bulls’ next upside price objective is to produce a close above solid resistance at this week’s high of $1,760.90. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $1,700.00," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures ranged from a low of $1,733.20 to a high of $1,746. They fell 0.8% on Tuesday and they climbed 0.02% on Monday.
Silver for December delivery tumbled 98.2 cents to close at $21.485 an ounce. The settlement was the lowest since silver finished at $20.192 an ounce on July 20, 2020. Silver futures traded between $21.41 and $22.57. They lost 1% on Tuesday and they gained 1.2% on Monday.
In PGM futures on Wednesday:
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January platinum shed $14.90, or 1.6%, to $947 an ounce, ranging from $941.40 to $972. The close was the lowest for platinum since it settled at $899.20 an ounce on Sept. 20.
- Palladium for December delivery declined $23.90, or 1.3%, to $1,830.30 an ounce, trading between $1,825.50 and $1,898.50. The settlement was the worst since palladium closed at $1,798.20 an ounce on May 14, 2020.
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/ This Week | Last Week | August | September | 2021 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 18,500 | 112,000 | 67,500 | 813,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 21,000 | 4,000 | 81,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 34,000 | 8,000 | 128,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 25,000 | 50,000 | 35,000 | 365,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 8,500 | 27,500 | 24,000 | 259,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 485,000 | 3,930,000 | 2,735,000 | 25,675,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 75,000 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 0 | 52,900 |
