Precious metals climbed for a second day in a row Wednesday. Gold closed near a two-week high and above the key level of $1,300 an ounce.
Gold for April delivery tacked on $11.20, or 0.9%, to settle at $1,309.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Feb. 28.
"Chart-based buying and bargain hunting are featured this week. A weaker U.S. dollar index on this day is also working in favor of the metals market bulls," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily report. "The other key outside market today is also in a bullish posture for the metals and sees Nymex crude oil prices higher, hitting a four-month high and trading just above $58.00 a barrel."
Gold futures ranged from a low of $1,300.60 to a high of $1,311.60. They rose 0.5% on Tuesday and slipped 0.6% on Monday.
Silver for May delivery added 4.3 cents, or 0.3%, to close at $15.456 an ounce. Silver futures traded between $15.43 and $15.55. They moved up 0.9% on Tuesday and declined 0.5% on Monday.
In PGM futures on Wednesday:
-
April platinum gained $9.80, or 1.2%, to $841.70 an ounce, ranging from $832.60 to $849.40.
- Palladium for June delivery advanced $16.70, or 1.1%, to $1,506.70 an ounce, trading between $1,490 and $1,515.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM
- Gold added $9.90, or 0.8%, to $1,306.95 an ounce.
- Silver added 7.5 cents, or 0.5%, to $15.52 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint 2019 Bullion Sales
United States Mint bullion sales rose by a combined 276,000 ounces in silver coins. 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 | This Week | January | February | March | 2019 Sales | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 1,500 | 27,100 | 2,400 | 1,500 | 31,000 |
| $50 American Eagle 1 Oz Gold Coin | 0 | 1,500 | 5,500 | 44,500 | 11,000 | 7,000 | 62,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 15,000 | 1,000 | 0 | 16,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 4,000 | 20,000 | 0 | 4,000 | 24,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 5,000 | 90,000 | 10,000 | 5,000 | 105,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 500 | 3,500 | 23,500 | 6,000 | 4,000 | 33,500 |
| $1 American Eagle 1 Oz Silver Coin | 71,000 | 0 | 850,000 | 4,017,500 | 2,157,500 | 850,000 | 7,025,000 |
| Lowell 5 Oz Silver Coin | 41,000 | N/A | 80,000 | N/A | 80,000 | 80,000 | |
Amazing! The mint sold 80,000 5 oz bullion “Lowell” coins this week but gave the lack of such “blanks” as an excuse for their screw up on the 5 oz Apollo Coins. Disgusting!