Precious metals futures split in the mid-week trading session Wednesday. Gold was among the winners, rising for a second session in a row as U.S. stocks sank on the day.
Gold for December delivery rose $1.90, or 0.2%, to settle at $1,193.40 an ounce on the Comex division of the New York Mercantile Exchange.
“Gold is holding steady in a narrow range as the ‘big’ dollar pulls back from its seven-week high — support remains strong for the dollar on the back of a strong U.S. economy and expectations of steady interest-rate hikes by the Fed,” MarketWatch quoted Dean Popplewell, vice president of market analysis at Oanda.
Gold futures ranged from a low of $1,188.50 to a high of $1,195.70. They edged up 0.2% on Tuesday and dropped 1.4% on Monday, for their lowest close since Sept. 27.
Silver for December declined 7.4 cents, or 0.5%, to end at $14.326 an ounce. The settlement is the weakest since Sept. 27. Silver futures traded between $14.25 and $14.46. They climbed 0.5% on Tuesday and declined 2.2% on Monday.
In PGM futures Wednesday:
- January platinum shed $1.60, or 0.2%, to $827.30 an ounce, ranging from $822.60 to $831.40.
- Palladium for December delivery added $5.10, or 0.5%, to $1,067.20 an ounce, trading between $1,055.20 and $1,074.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Tuesday PM to Wednesday PM:
- Gold rose $3.05, or 0.3%, to 1,188.60 an ounce.
- Silver added 5 cents, or 0.4%, to $14.375 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Sales in 2018
United States Mint bullion sales grew by 3,000 ounces in American Gold Eagles and by 260,000 ounces in American Silver Eagles.
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 / Week||Last Week||September||October||2018 Sales|
|$100 American Eagle 1 Oz Platinum Coin*||0||0||0||0||30,000|
|$50 American Eagle 1 Oz Gold Coin||3,000||4,500||14,500||7,500||158,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||2,000||1,000||25,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||4,000||0||58,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||10,000||40,000||10,000||210,000|
|$50 American Buffalo 1 Oz Gold Coin||0||1,500||11,000||1,500||109,500|
|$1 American Eagle 1 Oz Silver Coin||260,000||670,000||2,897,500||930,000||13,065,000|
|Pictured Rocks 5 Oz Silver Coin*||0||0||0||0||30,000|
|Apostle Islands 5 Oz Silver Coin*||0||0||0||0||30,000|
|Voyageurs 5 Oz Silver Coin*||0||0||0||0||30,000|
|Cumberland Island 5 Oz Silver Coin||0||0||52,500||0||52,500|