Precious metals split in the mid-week trading session Wednesday with gold and silver rising and platinum and palladium falling.
Gold for December delivery added $5.40, or 0.3%, to settle at $1,798.80 an ounce on the Comex division of the New York Mercantile Exchange.
"We are in a consolidation period for gold, but I think that eventually the policy tightening and inflation concerns should be positive for the metal," Reuters quoted Edward Moya, senior market analyst at brokerage OANDA.
Gold futures ranged from a low $1,784.30 to a high of $1,801. They lost 0.7% on Tuesday and they climbed 0.6% on Monday for their highest settlement since Sept. 14.
Silver for December delivery rose 10.3 cents, or 0.4%, to close at $24.191 an ounce. Silver futures traded between $23.90 and $24.33. They fell 2.1% on Tuesday and they rose 0.6% on Monday for their best finish since Sept. 3.
In PGM futures on Wednesday:
January platinum declined $13.60, or 1.3%, to $1,019.30 an ounce, ranging from $1,010.60 to $1,033.80.
- Palladium for December delivery fell $30.50, or 1.5%, to $1,974.30 an ounce, trading between $1,931 and $2,019.
US Mint Bullion Sales in 2021
The United States Mint published bullion sales gains for the first time this week. Increases included a combined 27,000 ounces in gold coins.
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||October||2021 Sales|
|$50 American Eagle 1 Oz Gold Coin||17,500||21,000||112,000||67,500||132,000||945,500|
|$25 American Eagle 1/2 Oz Gold Coin||4,000||3,000||21,000||4,000||7,000||88,000|
|$10 American Eagle 1/4 Oz Gold Coin||10,000||8,000||34,000||8,000||22,000||150,000|
|$5 American Eagle 1/10 Oz Gold Coin||30,000||30,000||50,000||35,000||85,000||450,000|
|$50 American Buffalo 1 Oz Gold Coin||2,000||4,000||27,500||24,000||38,500||298,000|
|$1 American Eagle 1 Oz Silver Coin||0||576,000||3,930,000||2,735,000||1,076,000||26,751,500|
|$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|