Precious metals futures posted gains Wednesday ranging from 0.2% for silver to 2.1% for palladium. The latter scored its second record in a row. Increases in gold and silver were their first in three days. Platinum extended its wins to six in seven sessions.
Gold for December delivery added $6, or 0.4%, to settle at $1,496.70 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold prices are modestly up in afternoon U.S. trading Wednesday and showed little reaction to an as-expected slight reduction in the key U.S. interest rate — the Fed funds rate," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note. "Some stronger-than-expected U.S. economic data released earlier today did put slight pressure on the precious metals as they came off their overnight highs."
Gold futures ranged from a low of $1,483.10 to a high of $1,499.30. They shed 0.3% on Tuesday and they ended 0.6% lower on Monday.
Silver for December delivery rose 3.6 cents to settle at $17.867 an ounce. Silver futures traded between $17.59 and $17.97. They declined 0.3% on Tuesday and they dipped 0.3% on Monday.
In PGM futures Wednesday:
-
January platinum added $5.50, or 0.6%, to $930.60 an ounce, ranging from $918.30 to $931.90.
- Palladium for December delivery rallied $37 to a record settlement of $1,792.10 an ounce. Palladium traded between $1,750.10 and $1,799.20.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold rose $5.35, or 0.4%, to $1,492.10 an ounce.
- Silver fell 29.5 cents, or 1.7%, to $17.955 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 | September | October | 2019 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 3,500 | 8,000 | 98,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 1,000 | 1,000 | 25,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 2,000 | 4,000 | 34,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 10,000 | 20,000 | 190,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 2,500 | 3,000 | 55,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 1,021,000 | 943,500 | 14,233,500 |
| San Antonio Missions 5 Oz Silver Coin | 0 | 0 | 37,700 | 17,500 | 55,200 |
| War in the Pacific 5 Oz Silver Coin | 0 | 0 | 2,500 | 500 | 72,500 |
| American Memorial Park 5 Oz Silver Coin* | 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 | |||
