Gold and silver futures closed higher Wednesday for the first time in five sessions. Silver rebounded from a 34-month low. Platinum extended its losses to five straight sessions while palladium ended ahead for a second day in a row.
Gold for December delivery rose $8.70, or 0.7%, to settle at $1,210.10 an ounce on the Comex division of the New York Mercantile Exchange.
"Being long gold has been a tough investment since 2012, and so often, when we see the yellow metal gaining traction, the [U.S. dollar] regains its mojo, and we see the inevitable reversal," MarketWatch quoted Chris Weston, head of research at Pepperstone Group, in the call of the day featured in the column. "However, as we look into our crystal ball and gaze into 2019, emerging warning signs can be seen that suggest 2019 could be the year where gold bulls finally get their day in the sun."
Gold futures ranged from a low of $1,198.10 to a high of $1,216.60. They fell 0.2% on Tuesday — marking their lowest price since Oct. 10, and they shed 0.4% on Monday.
Silver for December delivery added 10.3 cents, or 0.7%, to settle at $14.08 an ounce. Silver futures traded between $13.86 and $14.15. They declined 0.2% on Tuesday — ending at their worst price since Jan. 15, 2016, and they lost 0.9% on Monday.
In PGM prices Wednesday:
-
January platinum fell $7.50, or 0.9%, to $833.80 an ounce, ranging from $829.10 to $844.90.
- Palladium for December delivery jumped $18.10, or 1.7%, to $1,110.20 an ounce, trading between $1,085 and $1,117.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold rose $1.15, or 0.1%, to 1,203.25 an ounce.
- Silver lost 5 cents, or 0.4%, to $13.97 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 415,000 ounces in American Silver 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 / This Week | Last Week | October | November | 2018 Sales | |
| $100 American Eagle 1 Oz Platinum Coin* | 0 | 0 | 0 | 0 | 30,000 |
| $50 American Eagle 1 Oz Gold Coin | 0 | 4,000 | 21,000 | 4,000 | 176,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 2,000 | 4,000 | 2,000 | 30,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 2,000 | 0 | 60,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 10,000 | 10,000 | 10,000 | 220,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 2,000 | 6,500 | 2,000 | 116,500 |
| $1 American Eagle 1 Oz Silver Coin | 415,000 | 405,000 | 1,430,000 | 820,000 | 14,385,000 |
| 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 |
| Cumberland Island 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 52,500 |
