For a second straight session, gold, silver and platinum gained while palladium declined. Silver finished the day at a more than ten-month high. Gold registered a new, nearly nine-year high.
Gold for August delivery rose $10.70, or 0.6%, to settle at $1,820.60 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Sept. 14, 2011 when gold ended at $1,826.50 an ounce.
"Gold prices have continued to benefit from safe-haven demand despite positive macro data and risk-on sentiment… Dollar weakness has provided some support to gold but the key driver remains real yields," Reuters quoted Standard Chartered analyst Suki Cooper.
Gold futures ranged from a low of $1,803.80 to a high of $1,829.80. They tacked on 0.9% on Tuesday and they rose 0.2% on Monday.
Silver for September delivery rallied 46.2 cents, or 2.5%, to end at $19.161 an ounce. The settlement was the highest since Sept. 4 when silver closed at $19.547 an ounce. Silver futures traded between $18.58 and $19.22. They climbed 0.6% on Tuesday and they gained 1.4% on Monday.
In PGM futures on Wednesday:
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October platinum added $20.80, or 2.4%, to $884 an ounce, ranging from $859.80 to $888.20.
- Palladium for September delivery declined $13.30, or 0.7%, to $1,938.30 an ounce, trading between $1,923.10 and $1,971.50.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold gained $21.55, or 1.2%, to $1,811.10 an ounce.
- Silver jumped 46.5 cents, or 2.6%, to $18.485 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales increased by 1,500 ounces in American Gold Buffalos. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.
| US Mint Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Wednesday | Last Week | May | June | This Week / July | 2020 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 2,000 | 5,500 | 42,500 | 8,500 | 336,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 6,000 | 2,000 | 0 | 41,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 12,000 | 2,000 | 2,000 | 56,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 0 | 0 | 175,000 |
| $50 American Buffalo 1 Oz Gold Coin | 1,500 | 3,000 | 2,500 | 7,500 | 4,000 | 130,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 471,000 | 490,000 | 1,378,000 | 0 | 12,596,500 |
| $1 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 56,500 |
In terms of 5-ounce silver bullion sales for 2020, the U.S. Mint is working on getting them automated and reported. Initial U.S. Mint-provided figures have the first two 2020-dated pieces at 45,000 produced and sold per issue. These amounts are being verified.
