Precious metals posted gains Wednesday that ranged from 0.6% for platinum to 4.5% for silver. Silver logged its first increase in six sessions. Gold’s advanced was its first in three sessions.
Gold for December delivery tacked on $29.40, or 1.5%, to settle at $1,952.50 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold’s natural trend right now is upward, due largely to the growing global appreciation of how monetary easing and stimulus spending will depreciate the value of currencies against the yellow metal," MarketWatch quoted Brien Lundin, editor of Gold Newsletter. "I think we’ll continue to see gold consolidate its gains via time rather than a significant price correction, trading in a range for a couple of months before rallying once again."
Gold futures ranged from a low of $1,908.40 to a high of $1,963.40. They declined 0.8% on Tuesday and they shed 0.4% on Monday. Earlier this month, on Aug. 6, gold marked a record settlement of $2,069.40 an ounce.
Silver for September delivery soared $1.18 to close at $27.449 an ounce. Silver futures traded between $26.15 and $27.67. They fell 1.3% on Tuesday and they slipped 0.5% on Monday.
In PGM futures on Wednesday:
-
October platinum rose $5.80 to $939.80 an ounce, ranging from $915.50 to $946.10.
- Palladium for September delivery gained $18.70, or 0.9%, to $2,190.60 an ounce, trading between $2,143.60 and $2,202.60.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold added $21.80, or 1.1%, to $1,932.95 an ounce.
- Silver fell 10 cents, or 0.4%, to $26.395 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. Products with an asterisk (*) are no longer available.
| US Mint Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Wednesday / This Week | Last Week | June | July | August | 2020 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 16,500 | 42,500 | 107,500 | 86,000 | 521,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 6,000 | 2,000 | 4,000 | 6,000 | 51,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 12,000 | 2,000 | 10,000 | 12,000 | 76,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 30,000 | 0 | 35,000 | 30,000 | 240,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 4,000 | 7,500 | 30,000 | 22,500 | 178,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 1,000,000 | 1,398,000 | 1,084,500 | 2,593,000 | 16,294,000 |
| America Samoa 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 45,000 |
| Weir Farm 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 45,000 |
| Salt River Bay 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 45,000 |
| Marsh Billings 5 oz Silver Coin* | 0 | 0 | 0 | 45,000 | 0 | 45,000 |
| $1 American Eagle 1 Oz Platinum Coin* | 0 | 0 | 0 | 0 | 0 | 56,500 |
