Prices for precious metals increased on Wednesday, with platinum being the only exception, posting a modest loss. Silver led the way with a 1.6% gain, while gold reached another more than two-week high.
Up for a fifth straight session, gold for December delivery tacked on $13.40, or 0.7%, to end at $1,967.10 an ounce on the Comex division of the New York Mercantile Exchange. For a third day, the settlement was the best since Sept. 1.
"Gold and silver prices are higher but down from daily highs following the just-released FOMC statement that leans a bit more hawkish than most expected. Now the marketplace awaits Fed Chair Powell’s press conference, set to begin shortly," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
On the day, gold futures traded between $1,948.60 and $1,968.90, after they inched 0.02% higher on Tuesday and they climbed by 0.4% on Monday.
Higher for the third time in four sessions, silver for December delivery advanced by 38 cents to close at $23.836 an ounce. The settlement was the highest since Sept. 5. Silver futures ranged from $23.32 to $23.88. They declined by 0.2% on Tuesday and they increased by 0.5% on Monday.
In PGM futures on Wednesday:
-
October platinum shed $6.10, or 0.6%, to $942.30 an ounce, trading between $936.10 and $949.60.
- Palladium for December delivery rose by $14.80, or 1.2%, to $1,281.30 an ounce, ranging from $1,265 to $1,301.50.
US Mint Bullion Sales in 2023
U.S. Mint bullion sales have remained unchanged since last Wednesday. The table below presents a breakdown of U.S. Mint bullion products sold, with columns indicating the number of coins sold (not total ounces) during different time periods.
| US Mint Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Wednesday / This Week | Last Week | July | August | September | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 8,500 | 41,000 | 78,000 | 12,000 | 756,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 10,000 | 0 | 2,000 | 10,000 | 85,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 22,000 | 0 | 2,000 | 22,000 | 156,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 15,000 | 0 | 150,000 | 35,000 | 570,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 1,500 | 16,500 | 19,500 | 15,500 | 328,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 785,000 | 209,100,000 | 3,124,000 | 1,502,000 | 16,441,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 12,700 |
