Gold futures finished lower Wednesday. The loss was a first in five sessions and comes after the yellow metal closed Tuesday at an almost six-year high.
Gold for August delivery declined $3.30, or 0.2%, to settle at $1,415.40 an ounce on the Comex division of the New York Mercantile Exchange.
"Some profit taking from the shorter-term futures traders and chart consolidation are featured after prices hit a six-year high of $1,442.90 in August futures on Tuesday," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Bulls still have the solid technical advantage."
Gold futures ranged from a low of $1,405 to a high of $1,427.90. They edged up less than 0.1% on Tuesday — posting their highest close since Aug. 28, 2013, and they gained 1.3% on Monday.
Silver for July delivery dipped about a half cent, or less than 0.1%, to settle at $15.294 an ounce. Silver futures traded between $15.16 and $15.36. They lost 0.5% on Tuesday and rose 0.6% on Monday. Last Thursday, they settled at $15.492 an ounce for their best close since March 25.
In PGM futures Wednesday:
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October platinum — the new, most active contract, rose $7.50, or 0.9%, to $822 an ounce, ranging from $808.30 to $824.20.
- Palladium for September delivery lost $6.80, or 0.4%, to $1,525.70 an ounce, trading between $1,512.30 and $1,535.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold fell $27.45, or 1.9%, to $1,403.95 an ounce.
- Silver declined 14.5 cents, or 0.9%, to $15.255 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint 2019 Bullion Sales
United States Mint bullion sales were unchanged. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.
| US Mint Bullion Sales (# of coins) | |||||||
|---|---|---|---|---|---|---|---|
| Wednesday | Last Week | This Week | April | May | June | 2019 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 0 | 6,500 | 3,500 | 3,500 | 77,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 1,000 | 0 | 0 | 19,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 2,000 | 0 | 0 | 26,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 25,000 | 5,000 | 5,000 | 145,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 0 | 6,500 | 3,000 | 3,000 | 47,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 305,000 | 1,196,000 | 866,000 | 855,000 | 9,842,000 |
| American Memorial Park 5 Oz Silver Coin | 0 | 0 | 0 | N/A | 78,000 | 0 | 78,000 |
| Lowell 5 Oz Silver Coin* | N/A | 80,000 | |||||
| $100 American Eagle 1 Oz Platinum Coin* | N/A | 6,500 | N/A | 0 | 40,000 | ||
