Precious metals have been riding a mini roller coaster so far this week, rising on Monday, dipping on Tuesday, and then returning for gains on Wednesday.
Gold for August delivery inched up 40 cents, or 0.02%, to settle at $1,813.80 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold is wavering around the $1,800 mark in a manner that could be viewed as both bullish and bearish, depending on how you view it," wrote Craig Erlam, senior market analyst at Oanda, in a Wednesday note according to MarketWatch.
Gold futures ranged from a low of $1,804 to a high of $1,819.50. They slipped 0.04% on Tuesday and they rose 0.7% on Monday. Last Wednesday they ended at $1,820.60 an ounce for their highest settlement since Sept. 14, 2011.
Silver for September delivery advanced 23.1 cents, or 1.2%, to settle at $19.761 an ounce. Silver futures traded between $19.52 and $19.85. They shed 1.3% on Tuesday and they rallied 3.9% on Monday — marking their highest finish since Sept. 23, 2016, when the precious metal ended at $19.81 an ounce.
In PGM futures on Wednesday:
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October platinum rose $6.40, or 0.8%, to $843.20 an ounce, ranging from $835 to $852.80.
- Palladium for September delivery gained $24.40, or 1.2%, to $2,010 an ounce, trading between $1,975.30 and $2,014.60.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold rose $2.70, or 0.2%, to $1,804.60 an ounce.
- Silver gained 43.5 cents, or 2.3%, to $19.33 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales were unchanged Wednesday. 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 | This Week | May | June | July | 2020 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 8,500 | 5,000 | 5,500 | 42,500 | 13,500 | 341,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 6,000 | 2,000 | 0 | 41,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 0 | 12,000 | 2,000 | 2,000 | 56,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 0 | 0 | 0 | 175,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 5,000 | 0 | 2,500 | 7,500 | 5,000 | 131,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 0 | 490,000 | 1,378,000 | 0 | 12,596,500 |
| $1 American Eagle 1 Oz Platinum Coin | 0 | 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.
