Most precious metals futures ended lower in pre-holiday trading Wednesday. Markets in the U.S. are closed Thursday for the Thanksgiving holiday and re-open to an abbreviated trading schedule on Friday. Palladium was the winner on the day, scoring a record settlement.
Gold for February delivery — the new, most active contract — declined $6.60, or 0.5%, to settle at $1,460.80 an ounce on the Comex division of the New York Mercantile Exchange.
"The global trader and investor environment at present is one of scant geopolitical concerns amid a booming U.S. stock market. That’s a bearish scenario for the safe-haven metals. However, such cannot continue indefinitely and veteran metals market bulls are biding their time," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
Gold futures ranged from a low of $1,459.10 to a high of $1,469.10. They edged 0.2% higher on Tuesday and they declined 0.5% on Monday, marking their lowest settlement since Nov. 12.
Silver for March delivery — the new, most active contract — fell 13.3 cents, or 0.8%, to settle at $17.055 an ounce. Silver futures traded between $17.02 and $17.20. They gained 0.9% on Tuesday and they fell 0.7% on Monday, logging their lowest finish since Nov. 12.
In PGM futures on Wednesday:
-
January platinum declined $16.30, or 1.8%, to $895.40 an ounce, ranging from $891.30 to $911.80.
- Palladium for March delivery advanced $23.90, or 1.3%, to a record settlement of $1,805.90 an ounce. Palladium traded between $1,771.30 and $1,808.80.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold dipped 30 cents, or 0.02%, to $1,454.35 an ounce.
- Silver rose 12 cents, or 0.7%, to $17.055 an ounce.
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 | October | November | 2019 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 3,000 | 0 | 8,000 | 8,000 | 106,000 |
| $25 American Eagle 1/2 Oz Gold Coin* | 0 | 0 | 0 | 1,000 | 5,000 | 30,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 0 | 4,000 | 2,000 | 36,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 20,000 | 0 | 190,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 2,500 | 0 | 3,000 | 5,000 | 60,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 233,000 | 0 | 1,110,500 | 463,000 | 14,863,500 |
| Frank Church River of No Return Wilderness 5 Oz Silver Coin | 0 | 13,500 | 6,500 | N/A | 20,000 | 20,000 |
| San Antonio Missions 5 Oz Silver Coin | 0 | 0 | 0 | 17,500 | 0 | 55,200 |
| War in the Pacific 5 Oz Silver Coin | 0 | 0 | 0 | 500 | 0 | 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 | ||||
