Precious metals futures moved little in the mid-week trading session Wednesday. Gold drove its winning streak to four sessions in row to reach an almost two-week high.
Gold for December delivery rose $3.30, or 0.3%, to end at $1,203.30 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the best since Aug. 10.
Although gold prices "have staged a solid rebound from the $1,160 yearly low, the outlook remains tilted to the downside," MarketWatch quoted Lukman Otunuga, research analyst at FXTM. "With the dollar poised to recover on heightened U.S. rate-hike expectations and safe-haven demand, gold remains vulnerable to downside losses."
Gold futures ranged from a low of $1,199.20 to a high of $1,208.40. They climbed 0.5% on Tuesday and gained 0.9% on Monday.
Ending lower for the first time in three days, silver for September shed 1.6 cents, or 0.1%, to $14.75 an ounce. Silver futures traded between $14.67 and $14.88. They climbed 0.7% on Tuesday and edged up 0.3% on Monday.
In PGM futures on Wednesday:
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October platinum inched up 70 cents, or 0.1%, to $793.70 an ounce, ranging from $788.40 to $801.50.
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Palladium for September delivery gained $8.20, or 0.9%, to $918.20 an ounce, trading between $900.20 and $920.40.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold added $5.70, or 0.5%, to 1,196.65 an ounce.
- Silver added 2.5 cents, or 0.2%, to $14.81 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Sales in 2018
United States Mint bullion sales increased by 25,000 ounces in American Silver Eagles and by a 1,500 ounces in American Gold Eagles. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.
| US Mint Bullion Sales (# of coins) | |||||
|---|---|---|---|---|---|
| Wednesday | Last Week | July | August | 2018 Sales | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 30,000 |
| $50 American Eagle 1 Oz Gold Coin | 1,500 | 4,000 | 31,500 | 13,500 | 132,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 1,000 | 2,000 | 20,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 2,000 | 2,000 | 52,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 25,000 | 5,000 | 155,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 8,500 | 24,500 | 18,000 | 96,000 |
| $1 American Eagle 1 Oz Silver Coin | 25,000 | 690,000 | 885,000 | 1,180,000 | 8,887,500 |
| Pictured Rocks 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 30,000 |
| Apostle Islands 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 30,000 |
| Voyageurs 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 30,000 |
