Precious metals futures posted gains Wednesday that ranged from 0.6% for gold to 3.9% for platinum. Palladium finished at another all-time high. Gains in gold and silver were their first in three sessions.
Gold for February delivery settled up $9.40 to $1,554 an ounce on the Comex division of the New York Mercantile Exchange.
"The metals are seeing good rebounds following recent selling pressure. A lower U.S. dollar index today did work in favor of the precious metals market bulls," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
"The U.S.-China partial trade deal is expected to boost global economic growth in 2020, and that can be read as bullish for the metals and the raw commodity sector as it suggests better global demand," Wyckoff said.
Gold futures ranged from a low of $1,546.50 to a high of $1,557.60. They declined 0.4% on Tuesday, for their lowest close since Jan. 2, and they lost 0.6% on Monday.
Silver for March delivery rebounded 24.6 cents, or 1.4%, to close at $17.988 an ounce. Silver futures traded between $17.75 and $18.03. They dropped 1.4% on Tuesday, for their weakest settlement since Dec. 23, and they shed 0.6% on Monday.
In PGM futures on Wednesday.
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April platinum rallied $38.30 to $1,025.60 an ounce, ranging between $988 and $1,030.50.
- Palladium for March delivery soared $41.80, or 2%, to a record settlement of $2,165.10 an ounce. Palladium traded between $2,116 and $2,178.50.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold rose $3.90, or 0.3%, to $1,549 an ounce.
- Silver added 8 cents, or 0.5%, to $17.85 an ounce.
US Mint Bullion Sales
United States Mint bullion sales were unchanged according to data published on the agency’s website. 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 | November | December | 2019 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 8,000 | 2,000 | 108,000 |
| $25 American Eagle 1/2 Oz Gold Coin* | 0 | 0 | 5,000 | 0 | 30,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 2,000 | 0 | 38,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 0 | 195,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 5,000 | 1,500 | 61,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 463,000 | 0 | 14,863,500 |
| Frank Church River of No Return Wilderness 5 Oz Silver Coin | 0 | 0 | 20,000 | 5,000 | 25,000 |
| San Antonio Missions 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 55,200 |
| War in the Pacific 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 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 | |||
