Precious metals bounced higher Wednesday after posting losses in the previous session. Gold futures rallied to a one-month high.
Gold for December delivery gained $11, or 1%, to end at $1,127.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since July 17 when gold finished at $1,131.90 an ounce.
"Growing fears of destabilization in the world economy have sparked another round of capital outflows from stock markets not only in Asia Pacific markets but also in Europe and even the U.S., exacerbating seasonal uncertainty," MarketWatch quoted Colin Cieszynski, chief market strategist at CMC Markets. "Because of this, some capital appears to be finding its way back into defensive havens, particularly gold."
Gold prices ranged from a low of $1,115.50 to a high of $1,131.40. They edged lower in the prior session by $1.50 or 0.1%.
Silver for September delivery rebounded 39 cents, or 2.6%, to close at $15.18 an ounce. Silver prices traded between $14.80 and $15.32. They plunged on Tuesday by 51 cents or 3.3%.
In PGM futures on Wednesday:
-
October platinum turned up $19, or 1.9%, to $1,013.10 an ounce, ranging from $988.60 to $1,015.60.
- Palladium for September delivery gained $12.75, or 2.1%, to $609.75 an ounce, trading between $589.75 and $612.50.
London Precious Metals Prices
Earlier fixed London gold and silver prices were divided. In comparing London bullion prices from Tuesday PM to Wednesday PM:
- Gold gained $14.70, or 1.3%, to $1,126.15 an ounce.
- Silver declined 39 cents, or 2.6%, to $14.84 an ounce.
LBMA platinum and palladium prices are displayed on the LBMA’s website with a delay of midnight after the setting of the prices each day.
US Mint Bullion Coin Sales in August
United States Mint bullion sales of American Silver Eagles advanced 85,000. That lifts their weekly total to 1,187,500 coins, which is the maximum allocated this week by the Mint. Even with the Mint’s weekly sales restrictions, 2015 Silver Eagle sales at 30,682,500 coins remain on a record pace. In 2014 when sales ended at a record 44,006,000, the coins by Aug. 19, 2014 reached sales of 27,513,500.
Below is a listing of U.S. Mint bullion products with the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.
| US Mint Bullion Sales (# of coins) | |||||||
|---|---|---|---|---|---|---|---|
| Wednesday Sales | Tuesday Sales | Last Week | This Week | July Sales | August Sales | YTD Sales | |
| $50 American Eagle 1 Oz Gold Coins | 0 | 4,500 | 7,500 | 7,000 | 144,500 | 18,500 | 361,500 |
| $25 American Eagle 1/2 Oz Gold Coins | 0 | 1,000 | 1,000 | 2,000 | 10,000 | 3,000 | 49,000 |
| $10 American Eagle 1/4 Oz Gold Coins | 0 | 0 | 4,000 | 0 | 28,000 | 6,000 | 104,000 |
| $5 American Eagle 1/10 Oz Gold Coins | 0 | 15,000 | 15,000 | 25,000 | 135,000 | 45,000 | 570,000 |
| $50 American Buffalo 1 Oz Gold Coins | 0 | 500 | 3,000 | 500 | 32,000 | 4,500 | 133,000 |
| $1 American Eagle 1 Oz Silver Coins | 85,000 | 250,000 | 1,000,000 | 1,187,500 | 5,529,000 | 3,367,500 | 30,682,500 |
| 2015 Homestead 5 Oz Silver Coins* | – | 35,000 | |||||
| 2015 Kisatchie 5 Oz Silver Coins* | – | 42,000 | |||||
| 2015 Blue Ridge Parkway 5 Oz Silver Coins* | – | 10,000 | – | 45,000 | |||
