Aside from palladium which jumped on Wednesday, precious metals showed little overall movement in prices, with gold and silver down slightly and platinum up modestly.
Gold for June delivery declined by $8.50, or 0.4%, to settle at $1,996 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold is consolidating strong gains from the weeks prior — settling around the $2,000 an ounce area as it builds a new market at these near record levels," MarketWatch quoted Peter Spina, president of GoldSeek.com. "The overbought conditions from weeks ago are no longer a problem and the market is simply drifting in more of a sideways range as very strong fundamentals continue to support price drops."
Gold futures ranged within $1,993.70 to $2,020.20, after edging 0.2% higher on Tuesday and rising by 0.5% on Monday.
Meanwhile, silver for May delivery dipped by just over a half cent, or 0.02%, settling at $24.876 an ounce. Silver futures traded between $24.81 and $25.33, after dropping 1.7% on Tuesday and increasing by 1% on Monday.
In PGM futures on Wednesday:
-
July platinum added $7.80, or 0.7%, to $1,106 an ounce, ranging within $1,100.60 to $1,124.
- Palladium for June delivery surged by $27.50, or 1.9%, to $1,508.40 an ounce, trading between $1,481 and $1,527.50.
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 | 47,500 | 118,000 | 41,500 | 211,000 | 122,000 | 492,500 |
| $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 | 2,000 | 62,000 | 12,000 | 10,000 | 12,000 | 96,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 115,000 | 85,000 | 10,000 | 35,000 | 245,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 22,000 | 59,000 | 19,500 | 73,000 | 57,000 | 208,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 450,000 | 3,949,000 | 900,000 | 900,000 | 900,000 | 6,649,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | N/A | N/A | 7,500 | 500 | 8,000 |
