Precious metals futures registered gains Wednesday that ranged from 0.3% for gold to 3% for platinum. Gold and silver extended their multi-year settlement highs.
Gold for December delivery tacked on $4.50 to settle at $1,560.40 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.
Gold and silver prices are higher on "more safe-haven demand amid keener uncertainty in the marketplace, and on technically based buying," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note.
"The China-U.S. trade war remains on the front burner of the world marketplace, and has escalated in recent days. Volatile currency markets at present, Brexit wrangling in the U.K. and concerns about slowing world economic growth are also making the marketplace nervous," Wyckoff added.
Gold futures ranged from a low of $1,542.60 to a high of $1,566.20. They rallied 1.7% on Tuesday.
Silver for December delivery advanced 31 cents, or 1.6%, to close at $19.547 an ounce. The settlement was the strongest since Sept. 26, 2016, when the precious metal finished at $19.596 an ounce. Silver futures traded between $19.28 and $19.69. The soared 4.9% on Tuesday.
In PGM futures on Wednesday:
-
October platinum gained $28.60 to $984.20 an ounce, ranging from $958.60 to $994.30.
- Palladium for December delivery added $16.90, or 1.1%, to $1,552.10 an ounce, trading between $1,533 from $1,558.30.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold rose $8.25, or 0.5%, to $1,546.10 an ounce.
- Silver jumped 83 cents, or 4.5%, to $19.305 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 | Last Week | This Week / Sept | July | August | 2019 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 500 | 1,500 | 2,000 | 6,500 | 88,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 3,000 | 1,000 | 23,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 2,000 | 2,000 | 30,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 5,000 | 15,000 | 5,000 | 170,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 500 | 500 | 500 | 1,500 | 50,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 138,000 | 11,000 | 1,240,000 | 1,007,000 | 12,280,000 |
| War in the Pacific 5 Oz Silver Coin | 0 | 0 | 0 | 57,000 | 12,500 | 69,500 |
| American Memorial Park 5 Oz Silver Coin* | 0 | 0 | 0 | 0 | 2,000 | 80,000 |
| Lowell 5 Oz Silver Coin* | N/A | 80,000 | ||||
| $100 American Eagle 1 Oz Platinum Coin* | N/A | 40,000 | ||||
