Precious metals futures ended mixed Wednesday. Palladium gained for a third straight session, after falling for four days in a row, while gold and platinum logged their third day of losses. Silver, meanwhile, slipped from an almost four-week high.
The metals climbed sharply in later electronic trading when the FOMC announced that it would keep interest rates unchanged.Gold for August delivery shed $2.70, or 0.2%, to settle at $1,249.40 an ounce on the Comex division of the New York Mercantile Exchange. Gold futures ranged from a low of $1,243.20 to a high of $1,250.50. They also declined 0.2% in the prior session, after sliding 0.05% on Monday. In its last daily gain, on Friday, the yellow metal posted its highest settlement since June 23.
Gold was last at $1,261.60 in after-hours trade.
"Gold is kicking in the afterburners, largely due to [Fed Chairwoman Janet] Yellen’s decision not to raise rates," MarketWatch quoted Adam Koos, president of Libertas Wealth Management Group. "The decision keeps a bid in the yellow metal, all while investors continue to wonder when the next [rate] hike will take place."
Silver for September delivery lost 8.3 cents, or 0.5%, to end at $16.459 an ounce. Silver futures traded between $16.28 and $16.48. They advanced 0.6% on Tuesday, marking their strongest close since June 30. Silver prices dipped 0.1% in starting the week on Monday.
Silver was last trading at $16.66 an ounce.
In PGM futures on Wednesday:
-
October platinum declined $9.10, or 1%, to $922.70 an ounce, ranging from $919.30 to $929.90.
- Palladium for September gained $5.95, or 0.7%, to $862.90 an ounce, trading between $850.65 and $867.75.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold declined $6.30, or 0.5%, to 1,248.10 an ounce.
- Silver rose 6 cents, or 0.4%, to $16.37 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
United States Mint bullion sales were unchanged as of 2:59 p.m. ET. 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 | June | July | YTD | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 20,000 |
| $50 American Eagle 1 Oz Gold Coin | 0 | 5,000 | 500 | 4,000 | 12,500 | 153,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 0 | 0 | 27,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 0 | 4,000 | 52,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 0 | 20,000 | 30,000 | 290,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 500 | 500 | 2,000 | 3,500 | 69,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 725,000 | 205,000 | 986,000 | 2,220,000 | 14,453,500 |
| 2017 Effigy Mounds 5 Oz Silver Coin | 0 | 0 | 0 | 8,800 | 0 | 35,000 |
| 2017 Frederick Douglass 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 20,000 |
| 2017 Ozark Riverways 5 Oz Silver Coin | 0 | 0 | 0 | 20,000 | 0 | 20,000 |
