Precious metals futures posted a second day of across-the-board gains on Wednesday. Gold finished at a more than one-month high.
Gold for December delivery added $14.10, or 0.7%, to settle at $1,929.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was gold’s highest since Sept. 18.
"Support at mid-week comes from a weakening U.S. dollar index that hit a six-week low today. Weaker U.S. stock indexes at midday are also aiding the precious metals markets, which are a competing asset class with equities," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
Gold futures ranged from a low of $1,911.60 to a high of $1,936. They rose 0.2% on Tuesday and they moved up 0.3% on Monday.
Silver for December delivery advanced 26.1 cents, or 1%, to settle at $25.241. The close was silver’s best since Oct. 12. Silver futures traded between $24.77 and $25.43. They added 1.1% on Tuesday and they tacked on 1.2% on Monday.
In PGM futures on Wednesday:
-
January platinum gained $16.60, or 1.9%, to $893.90 an ounce, ranging from $875.10 to $898.70.
- Palladium for December delivery rose $9.80, or 0.4%, to $2,427.50 an ounce, trading between $2,406.20 and $2,429.70.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold gained $25.75, or 1.4%, to $1,924.15 an ounce.
- Silver added 39 cents, or 1.6%, to $25.02 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 | Last Week | This Week | August | September | October | 2020 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 10,000 | 5,500 | 104,000 | 18,500 | 45,000 | 602,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 2,000 | 10,000 | 3,000 | 5,000 | 63,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 0 | 20,000 | 4,000 | 4,000 | 92,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 5,000 | 70,000 | 10,000 | 10,000 | 300,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 5,000 | 500 | 28,000 | 4,500 | 14,000 | 202,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 873,000 | 724,000 | 4,477,000 | 2,958,500 | 2,423,000 | 23,559,500 |
| America Samoa 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 0 | 45,000 |
| Weir Farm 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 0 | 45,000 |
| Salt River Bay 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 0 | 45,000 |
| Marsh Billings 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 0 | 45,000 |
| Tallgrass Prairie 5 oz Silver Coin* | 0 | 0 | 0 | N/A | 45,000 | 0 | 45,000 |
| $1 American Eagle 1 Oz Platinum Coin* | 0 | 0 | 0 | 0 | 0 | 0 | 56,500 |
