Precious metals futures mostly gained Wednesday. Increases in gold and silver were their first in four sessions and follow their almost two-week lows. Palladium ended near a new record. Platinum was the decliner.
Gold for December delivery tacked on $10.20, or 0.8%, to settle at $1,223.60 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold should stay fairly range-bound in the short term," Reuters quoted ING analyst Warren Patterson. "I struggle to see it breaking below $1,200 and likewise on the upside, until the end of this year, I struggle to see it breaking above $1,250 as well."
Gold futures ranged from a low of $1,210.50 to a high of $1,227.70. They lost 0.7% on Tuesday — ending at their lowest price since Nov. 14, and they dipped less than 0.1% on Monday.
Elsewhere, silver for December delivery advanced 24.1 cents, or 1.7%, to settle at $14.325 an ounce. Silver futures traded between $14.07 and $14.36. They declined 0.9% on Tuesday — also ending at their lowest price since Nov. 14, and they fell 0.3% on Monday.
In PGM futures on Wednesday:
-
January platinum lost $9, or 1.1%, to $826.30 an ounce, ranging from $816.50 to $837.40.
- Palladium for March delivery jumped $29.80, or 2.7%, to $1,151.90 an ounce — $2.70 lower than the record set on Nov. 16. Palladium prices traded between $1,125 and $1,161.10.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold declined $7.95, or 0.7%, to 1,213.25 an ounce.
- Silver fell 12.5 cents, or 0.9%, to $14.15 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
On Wednesday, the United States Mint published bullion sales gains for the first time in more than a week. The single reported 80,000-coin increase belongs to a five-ouncer.
Released Monday for sale to U.S. Mint bullion distributors, the new Block Island piece is the last of five 2018-dated 5-ounce America the Beautiful silver bullion coins. It depicts Block Island National Wildlife Refuge in Rhode Island — just like the companion quarter released over two weeks ago.
The 80,000 total is the most in the series since the first issues released in 2016.
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 | 0 | 21,000 | 5,000 | 177,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 4,000 | 2,000 | 30,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 2,000 | 2,000 | 62,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 10,000 | 15,000 | 225,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 6,500 | 3,000 | 117,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 1,430,000 | 1,270,000 | 14,835,000 |
| 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 |
| Block Island 5 Oz Silver Coin | 80,000 | N/A | 80,000 | 80,000 | |
