During Wednesday’s mid-week trading session, silver and platinum prices increased, while gold and palladium prices decreased.
Gold for June delivery fell for a third time in four sessions, losing $12.40, or 0.6%, to settle at $2,007.30 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold prices are lower near midday Wednesday but have posted a significant rebound from the early-session low. Silver prices are modestly up after also seeing solid losses in early dealings. The U.S. dollar index has lost most of its earlier good daily gains, which has given the metals market bulls some confidence to step in to buy today’s price dips. However, rising U.S. Treasury and European bond yields, as well as lower crude oil prices, are keeping the precious metals depressed today," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
After rising 0.6% on Tuesday and dropping 0.4% on Monday, gold futures traded today between $1,980.90 and $2,020.30. Notably, on Thursday, gold achieved its highest closing level since August 6, 2020, finishing at $2,055.30 an ounce.
Meanwhile, silver for May delivery rose 10.8 cents, or 0.4%, to settle at $25.371 an ounce, following a 0.7% increase on Tuesday and a 1.5% decrease on Monday. Silver futures ranged from $24.71 to $25.46. Last Thursday, silver ended at $25.925 an ounce, its highest closing price since April 18, 2022.
In PGM futures prices on Wednesday:
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July platinum added $8.40, or 0.8%, to $1,105.70 an ounce, trading between $1,072 and $1,108.50.
- Palladium for June delivery lost $24.10, or 1.5%, to $1,618.80 an ounce, ranging from $1,577.50 to $1,635.
US Mint Bullion Sales in 2023
U.S. Mint published bullion sales were unchanged 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 / This Week | Last Week | January Sales | February | March | April | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 56,500 | 118,000 | 41,500 | 211,000 | 74,500 | 445,000 |
| $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 | 10,000 | 115,000 | 85,000 | 10,000 | 30,000 | 240,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 25,500 | 59,000 | 19,500 | 73,000 | 35,000 | 186,500 |
| $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 |
