On Wednesday, precious metals experienced losses, with platinum and palladium falling over 2% each while gold and silver posted modest declines. This came after the latter two metals reached around one-year highs in the prior session.
Gold for June delivery shed $2.60, or 0.1%, to settle at $2,035.60 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold and silver prices are near steady in midday U.S. trading Wednesday, on a bit of profit-taking pressure and chart consolidation after hitting 12-month highs overnight. Both metals are in strong technical positions to suggest still more upside in the near term," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Having advanced by 1.9% on Tuesday for their highest settlement since March 8, 2020, gold futures on Wednesday traded between $2,026.10 and $2,049.20. They had also increased by 0.7% on Monday.
Meanwhile, silver for May delivery gave back 6.4 cents, or 0.3%, to end at $25.037 an ounce. Silver futures traded within a range of $24.78 to $25.30. They rallied 4.5% on Tuesday, logging their highest settlement since April 20, 2022, and they fell 0.6% on Monday.
In PGM futures prices on Wednesday:
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July platinum fell $21.60, or 2.1%, to $1,007.40 an ounce, ranging from $1,000.90 to $1,036.90.
- Palladium for June delivery declined $30.40, or 2.1%, to $1,425.30 an ounce, trading between $1,416.50 and $1,475.
US Mint Bullion Sales in 2023
There were no changes in the published U.S. Mint bullion sales on Wednesday. The table below presents a breakdown of U.S. Mint bullion products sold, with columns indicating the number of coins sold during different time periods.
| US Mint Bullion Sales (# of coins) | |||||||
|---|---|---|---|---|---|---|---|
| Wednesday | Last Week | January Sales | February | March | This Week / April | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 53,500 | 118,000 | 41,500 | 211,000 | 18,000 | 388,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 37,000 | 8,000 | 1,000 | 8,000 | 54,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 62,000 | 12,000 | 10,000 | 10,000 | 94,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 115,000 | 85,000 | 10,000 | 20,000 | 230,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 15,500 | 59,000 | 19,500 | 73,000 | 9,500 | 161,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 3,949,000 | 900,000 | 900,000 | 450,000 | 6,199,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | N/A | N/A | 7,500 | 500 | 8,000 |
Sir Kaiser, this day, April 5, 2023, marks the 90th Anniversary of FDR’s Other ‘Day of Infamy’.