Gold and silver futures ended lower in normal trading hours Wednesday, and then saw gains in after-hour dealings following the release of the Fed’s latest monetary policy statement.
Gold for August delivery slipped $1.90, or 0.1%, to settle at $1,348.80 an ounce on the Comex division of the New York Mercantile Exchange. Gold futures ranged from a low of $1,344.80 to a high of $1,358. They gained 0.6% on Tuesday — ending at their highest price since April 18, 2018, and dipped 0.1% on Monday.
In electronic trading after the Fed news, gold prices moved toward $1,357 an ounce.
"Even though the Fed didn’t cut rates, the market expectation for a dovish environment and a likely rate cut in July are positive for gold," Maxwell Gold, the New York-based director of investment strategy at Aberdeen Standard Investments, said by email according to Bloomberg News. "As concerns around slowing global growth and trade put further pressure on monetary policy globally gold may see further support."
Silver for July delivery declined 3.5 cents, or 0.2%, to close at $14.958 an ounce. Silver futures traded between $14.90 and $15.09. They rose 1.1% on Tuesday and climbed 0.2% on Monday. Silver was last near $15.09 an ounce in after-hours trading.
In PGM futures on Wednesday:
-
July platinum added $3.80, or 0.5% to $805.80 an ounce, ranging from $797.20 to $810.60.
- Palladium for September delivery rose $19.30, or 1.3%, to $1,492.60 an ounce, trading between $1,473 and $1,495.70.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold rose $2.70, or 0.2%, to $1,344.05 an ounce.
- Silver added a nickel, or 0.3%, to $14.945 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 were unchanged. Below is a sales breakdown of U.S. Mint 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 / This Week | Last Week | April | May | June | 2019 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 3,000 | 6,500 | 3,500 | 3,500 | 77,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 1,000 | 0 | 0 | 19,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 2,000 | 0 | 0 | 26,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 25,000 | 5,000 | 5,000 | 145,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 2,000 | 6,500 | 3,000 | 3,000 | 47,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 326,500 | 1,196,000 | 866,000 | 550,000 | 9,537,000 |
| American Memorial Park 5 Oz Silver Coin | 0 | 0 | N/A | 78,000 | 0 | 78,000 |
| Lowell 5 Oz Silver Coin* | N/A | 80,000 | ||||
| $100 American Eagle 1 Oz Platinum Coin* | N/A | 6,500 | N/A | 0 | 40,000 | |
