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|