Gold and silver futures settled lower for a second straight session Wednesday, and then climbed slightly in electronic trading after minutes from the Fed’s last meeting were released.
Gold for June delivery dipped $2.40, or 0.2%, to settle at $1,253.10 an ounce on the Comex division of the New York Mercantile Exchange.
In trading after the minutes were released, gold rose above $1,257 an ounce.
"Gold prices were trading slightly higher in U.S. trading early Wednesday afternoon, on a mildly bullish reaction to the just-released FOMC minutes," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "There had recently been a lack of new, bullish fundamental inputs for the safe-haven metal. This had allowed the sellers to gain a bit of momentum this week."
Gold futures ranged from a low of $1,247.60 to a high of $1,258.20. They slipped 0.5% on Tuesday and climbed 0.6% on Monday, closing at their highest price since April 28.
Meanwhile, silver for July delivery shed 2.2 cents, or 0.1%, to settle at $17.117 an ounce. Silver futures traded between $16.89 and $17.20. They declined 0.3% on Tuesday and gained 2.4% on Monday — also ending at their best price since April 28. The precious metal was at $17.20 an ounce in after-hours trade.
In PGM futures on Wednesday:
-
July platinum fell $2.10, or 0.2%, to $947.30 an ounce, ranging from $940.30 to $951.40.
- Palladium for June delivery declined $10.70, or 1.4%, to $761.65 an ounce, trading between $756.25 and $772.80.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Tuesday PM to Wednesday PM:
- Gold lost $7.65, or 0.6%, to $1,252.55 an ounce.
- Silver fell 11 cents, or 0.6%, to $17.03 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Sales in 2017
U.S. Mint bullion sales were unchanged. Below is a sales breakdown of U.S. 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 Sales | May Sales | 2017 Sales | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 20,000 |
| $50 American Eagle 1 Oz Gold Coin | 0 | 3,000 | 3,000 | 3,500 | 9,000 | 136,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 0 | 1,000 | 26,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 0 | 2,000 | 2,000 | 48,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 10,000 | 20,000 | 30,000 | 240,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 2,000 | 0 | 3,500 | 4,500 | 63,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 505,000 | 445,000 | 835,000 | 2,005,000 | 10,797,500 |
| 2017 Effigy Mounds 5 Oz Silver Coin | 0 | 300 | 2,600 | 900 | 3,500 | 24,100 |
| 2017 Frederick Douglass 5 Oz Silver Coin | 0 | 0 | 0 | 17,600 | 2,400 | 20,000 |
