Precious metals futures rose modestly in the mid-week trading session Wednesday. Gold’s gain was its first in four sessions.
Gold for December delivery settled up $8.90, or 0.6%, to $1,512.80 an ounce on the Comex division of the New York Mercantile Exchange. Gold held steady following the release of minutes from the FOMC’s September policy meeting.
"The minutes showed that some Fed officials had become increasingly worried about a recession, but the markets had already assumed as much," given Fed Chairman Jerome Powell’s recent announcement that the Fed would soon begin purchasing short-term Treasury bills again, MarketWatch quoted Brien Lundin, editor of Gold Newsletter.
Gold futures ranged from a low of $1,505.10 to a high of $1,516.90. They dipped 0.03% on Tuesday — marking a one-week low — and declined 0.6% on Monday.
Silver for December delivery added 11 cents, or 0.6%, to settle at $17.81 an ounce. Silver futures traded between $17.72 and $18. They rose 0.9% on Tuesday and fell 0.5% on Monday.
In PGM futures on Wednesday:
-
January platinum moved up $6.60, or 0.7%, to $896.70 an ounce, ranging from $887.80 to $900.30.
- Palladium for December delivery rose $4, or 0.2%, $1,654.70 an ounce, trading between $1,630.70 and $1,667.30. Last Wednesday, they scored a record settlement at $1,665.50 an ounce.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold added $1.40, or 0.09%, to $1,507.25 an ounce.
- Silver rose 22.5 cents, or 1.3%, to $17.78 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 picked up by 1,000 ounces in American Gold Eagles and by 75,000 ounces in American Silver Eagles.
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 | September | October | 2019 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 1,000 | 1,500 | 2,000 | 3,500 | 3,500 | 93,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 1,000 | 0 | 24,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 2,000 | 2,000 | 4,000 | 34,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 10,000 | 10,000 | 15,000 | 185,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 0 | 1,000 | 0 | 50,500 |
| $1 American Eagle 1 Oz Silver Coin | 75,000 | 565,000 | 255,000 | 1,021,000 | 535,000 | 13,825,000 |
| San Antonio Missions 5 Oz Silver Coin | 0 | 42,200 | 12,500 | 37,700 | 17,000 | 54,700 |
| War in the Pacific 5 Oz Silver Coin | 0 | 0 | 500 | 2,500 | 500 | 72,500 |
| American Memorial Park 5 Oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 80,000 |
| Lowell 5 Oz Silver Coin* | N/A | 80,000 | ||||
| $100 American Eagle 1 Oz Platinum Coin* | N/A | 40,000 | ||||
