Precious metals posted another day of declines on Wednesday. Their losses ranged from 0.2% for gold to 1.8% for silver.
Down for a second session following three straight gains, gold for February delivery dipped $2.90 to settle at $1,907 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold and silver prices are weaker midday U.S. trading Wednesday, pressured by profit taking from the shorter-term futures traders and by a rebound in the U.S. dollar index today, as well as crude oil backing well down from its early-session high," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,898.60 and $1,928.80. They declined 0.6% in the start to the trading week on Tuesday. On Friday, gold at $1,921.70 an ounce scored its highest settlement since April 22.
Falling for the second time after two straight gains, silver for March delivery dropped 42.1 cents to settle at $23.647 an ounce. Silver futures ranged from $23.55 and $24.50. They lost 1.3% on Tuesday. On Friday, silver at $24.372 an ounce logged its best finish since April 21.
In PGM futures on Wednesday:
April platinum eased $3.20, or 0.3%, to $1,043.70 an ounce, trading between $1,036.50 and $1,085.10.
- Palladium for March delivery fell $28, or 1.6%, to $1,706 an ounce, ranging from $1,691.50 to $1,794.
US Mint Bullion Sales in 2023
Published United States Mint bullion sales were unchanged on 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||November||December||2022 Sales||Last Week||This Week||2023 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||6,000||4,000||850,000||90,000||11,000||101,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||75,000||34,000||1,000||35,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||140,000||50,000||2,000||52,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||575,000||115,000||0||115,000|
|$50 American Buffalo 1 Oz Gold Coin||0||4,500||0||410,000||44,000||500||44,500|
|$1 American Eagle 1 Oz Silver Coin||0||1,407,000||59,000||15,963,500||3,499,000||500,000||3,949,000|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||80,000||0||0||0|