Gold prices edged higher Wednesday, gaining for the sixth straight session and closing at another 10-week high.
Gold for August delivery rose $1.30, or 0.1%, to finish at $1,322.60 an ounce on the Comex division of the New York Mercantile Exchange. The closing price is the highest since April 14 when gold settled at $1,327.60 an ounce. Gains on Wednesday were attributed to safe-haven demand and a weaker U.S. dollar.
"The dollar weakness is keeping gold supported," Phil Streible, a senior commodity broker at R.J. O’Brien & Associates in Chicago, said in a telephone interview according to Bloomberg News. "There is also some safe-haven buying because of Iraq."
Gold prices traded from a low of $1,305.40 to a high of $1,325.60. In addition to the current streak, gold has climbed in 12 of 13 sessions.
Silver rose for a second consecutive day and has advanced in 12 of the last 13 sessions. Silver for July delivery added 7 cents, or 0.4%, to $21.12 an ounce, ranging from $20.71 to $21.17.
In rounding out the precious metals complex:
-
July platinum added $1.30, or 0.1%, to $1,473.20 an ounce, trading between $1,454.80 and $1,477.70.
- Palladium for September delivery rose $2.85, or 0.3%, to $833.25 an ounce, ranging from $822.30 to $834.75.
London Fix Precious Metals
Earlier fixed London precious metals declined. In contrasting London bullion fix prices from Tuesday PM to Wednesday PM:
- Gold lost $1.75, or 0.1%, to $1,316.75 an ounce,
- Silver fell 34 cents, or 1.6%, to $20.78 an ounce,
- Platinum dropped $10, or 0.7%, to $1,459 an ounce, and
- Palladium shed $2, or 0.2%, to $826 an ounce
US Mint Bullion Sales in June
United States Mint bullion sales were unchanged as of 2:56 p.m. ET. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold last week, this week so far, last month, the month-to-date, and the year-to-date.
| American Eagle and Buffalo Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Wednesday Sales | Sales Last Week Sales | Week-To-Date Sales | May Sales | June Sales | YTD Sales | |
| $100 American Platinum Eagle Bullion Coins | 0 | 0 | 0 | 1,000 | 700 | 12,900 |
| $50 American Gold Eagle Bullion Coins | 0 | 11,500 | 3,500 | 29,000 | 32,500 | 188,000 |
| $25 American Gold Eagle Bullion Coins | 0 | 0 | 0 | 3,000 | 0 | 25,000 |
| $10 American Gold Eagle Bullion Coins | 0 | 2,000 | 0 | 6,000 | 2,000 | 70,000 |
| $5 American Gold Eagle Bullion Coins | 0 | 5,000 | 0 | 35,000 | 20,000 | 345,000 |
| $50 American Buffalo Gold Bullion Coins | 0 | 6,500 | 0 | 12,500 | 12,000 | 107,500 |
| $1 American Eagle Silver Bullion Coins | 0 | 580,000 | 0 | 3,988,500 | 1,925,000 | 23,361,500 |
| Great Smoky Mountains National Park 5 Oz Silver Bullion Coins | 0 | 0 | 1,000 | 4,000 | 2,000 | 29,000 |
| Shenandoah National Park 5 Oz Silver Bullion Coins | 0 | 0 | 400 | 19,500 | 900 | 20,000 |
| Arches National Park 5 Oz Silver Bullion Coins | 0 | 2,800 | 2,000 | N/A | 18,300 | 18,300 |
The Mint ran out of Silver Eagles again?