Three of four major precious metals declined on Wednesday. Gold was among that main group, although down just slightly but to another over 1.5-month low.
Gold for April delivery shed $1, or 0.05%, to settle at $1,841.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was gold’s lowest since it ended at $1,840.60 ounce on Jan. 5.
"Technically, April gold futures bears have the slight overall near-term technical advantage. A fledgling downtrend is in place on the daily chart. Bulls’ next upside price objective is to produce a close above solid resistance at last week’s high of $1,881.60. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $1,800.00," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,833.10 and $1,855. They slipped 0.4% in their start to the trading week on Tuesday.
Silver for March delivery fell 21.30 cents, or 1%, to close at $21.677 an ounce. Silver futures ranged from $21.45 to $22. They rose 0.8% on Tuesday.
In PGM futures prices on Wednesday:
-
April platinum added $4.70, or 0.5%, to $953.30 an ounce, trading between $936.60 and $963.90.
- Palladium for March delivery dropped $38.50, or 2.5%, to $1,482.20 an ounce, ranging from $1,478 to $1,532.
US Mint Bullion Sales in 2023
Published United States Mint bullion sales have not since Feb. 7. 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) | ||||
|---|---|---|---|---|
| January Sales | Last Week | February | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 118,000 | 0 | 9,000 | 127,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 37,000 | 0 | 1,000 | 38,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 62,000 | 0 | 2,000 | 64,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 115,000 | 0 | 65,000 | 180,000 |
| $50 American Buffalo 1 Oz Gold Coin | 59,000 | 0 | 5,000 | 64,000 |
| $1 American Eagle 1 Oz Silver Coin | 3,949,000 | 0 | 450,000 | 4,399,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 |
