Gold and silver futures rallied Wednesday as safe-havens ignited. The yellow metal scored its best close since early 2013 and silver logged its strongest finish since mid-2018.
Gold for December delivery tacked on $13.70, or 0.9%, to close at $1,527.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since April 11, 2013 when gold ended at $1,564.90 an ounce.
"Safe-haven demand continues to be featured for the two precious metals [gold and silver] at mid-week, amid heightened concerns about slowing world economic growth," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note. "Geopolitics also remains close to the front burner of the marketplace, which is also supporting gold and silver."
Gold futures ranged from a low of $1,504.50 to a high of $1,534.90. They lost 0.2% on Tuesday and rose 0.6% on Monday.
Silver for September delivery surged 29.5 cents, or 1.7%, to finish at $17.28 an ounce. The settlement was the highest since June 14, 2018 when silver ended at $17.262 an ounce.
Silver futures traded between $16.85 and $17.31. They shed 0.5% on Tuesday and gained 0.8% on Monday.
In PGM futures Wednesday:
-
October platinum dropped $11.70, or 1.4%, to $848 an ounce, ranging from $846.50 to $858.40.
- Palladium for September fell $35.10, or 2.4%, to $1,416.40 an ounce, trading between $1,412 and $1,449.40.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold rose $14.85, or 1%, to $1,513.25 an ounce.
- Silver declined 33 cents, or 1.9%, to $17.115 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 Wednesday. 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 | Last Week | This Week | July | August | 2019 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 1,000 | 1,500 | 2,500 | 2,500 | 83,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 1,000 | 3,000 | 1,000 | 23,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 2,000 | 0 | 28,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 15,000 | 0 | 160,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 500 | 0 | 500 | 1,000 | 49,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 92,000 | 1,240,000 | 92,000 | 11,354,000 |
| War in the Pacific 5 Oz Silver Coin | 0 | 0 | 0 | 57,000 | 8,000 | 65,000 |
| American Memorial Park 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 78,000 |
| Lowell 5 Oz Silver Coin* | N/A | 80,000 | ||||
| $100 American Eagle 1 Oz Platinum Coin* | N/A | 40,000 | ||||
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