On Wednesday, prices for gold and silver increased, while prices for platinum and palladium declined. In addition to registering an increase, gold also marked its highest settlement in seven weeks.
Gold for December delivery advanced by $32.60, or 1.7%, to end at $1,968.30 an ounce on the Comex division of the New York Mercantile Exchange. The close was gold’s highest since Aug. 30.
"Keener risk aversion in the marketplace as the Middle East violence is flaring up has traders and investors seeking out safe-haven assets like gold and silver," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,935.90 and $1,975.80. They edged up by 0.07% on Tuesday and they declined by 0.4% on Monday.
Meanwhile, silver for December delivery rose by 7.5 cents, or 0.3%, closing at $23.099 an ounce — for a second day, the highest settlement since Sept. 26. Silver futures ranged from $22.84 to $23.49. They moved up by 1.1% on Tuesday and they slipped by 0.6% on Monday.
In PGM futures on Wednesday:
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January platinum fell by $11.90, or 1.3%, to $894.30 an ounce, trading between $885.80 and $914.70.
- Palladium for December delivery shed $12.70, or 1.1%, to $1,134 an ounce, ranging from $1,110.50 to $1,152.
US Mint Bullion Sales in 2023
U.S. Mint bullion sales last changed on Tuesday, with reported gains totaling 26,500 ounces in American Gold Eagles, 751,000 ounces in American Silver Eagles, and 7,500 ounces in American Gold Buffalos.
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 | Last Week | This Week | August | September | October | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 21,000 | 24,000 | 78,000 | 27,500 | 85,500 | 857,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 1,000 | 2,000 | 13,000 | 3,000 | 91,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 6,000 | 2,000 | 2,000 | 30,000 | 14,000 | 178,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 15,000 | 150,000 | 40,000 | 30,000 | 605,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 8,000 | 7,500 | 19,500 | 18,500 | 29,000 | 360,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 751,000 | 751,000 | 3,124,000 | 2,970,000 | 2,287,000 | 20,196,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 0 | 12,700 |
