Gold costs fell 0.4% on Wednesday, Feb. 26
Gold costs declined for a second day in a row Wednesday following eight straight session good points. Palladium, in the meantime, logged one other new report.
Gold for April supply shed $6.90, or 0.4%, to settle at $1,643.10 an oz on the Comex division of the New York Mercantile Alternate.
“The market is properly saturated with bullish information. I believe we’re seeing some contributors taking revenue right here … particularly the longs are taking benefit,” Reuters quoted Ryan McKay, a commodity strategist at TD Securities.
Gold futures ranged from a low of $1,626.60 to a excessive of $1,657.10. They fell 1.6% on Tuesday they usually gained 1.7% on Monday, ending the day at their highest level since Feb. 6, 2013.
Silver for March supply fell 27.7 cents, or 1.5%, to finish at $17.914 an oz. Silver futures traded between $17.82 and $18.25. They sank 3.6% on Tuesday they usually jumped 1.9% on Monday, closing at their greatest value since Sept. 4.
In PGM future costs Wednesday:
-
April platinum dropped $17.50, or 1.9%, to $914.80 an oz, starting from $908.90 to $937.70.
- Palladium for March supply superior $45, or 1.7%, to a report settlement of $2,692.80 an oz. Palladium traded between $2,616 and $2,720.
London Treasured Metals Costs
In evaluating earlier mounted London gold and silver costs from Tuesday PM to Wednesday PM:
- Gold declined $15.40, or 0.9%, to $1,634.90 an oz.
- Silver fell 25.5 cents, or 1.4%, to $18.075 an oz.
US Mint Bullion Gross sales in 2020
For the primary time this month, the US Mint reported its American Eagle bullion gross sales. Determine totals included 5,500 ounces in American Gold Eagles; 3,500 ounces in American Platinum Eagles; and 575,000 ounces in American Silver Eagles.
Under is a gross sales breakdown of U.S. Mint bullion merchandise with columns itemizing the variety of cash offered throughout various durations.
| US Mint Bullion Gross sales (# of cash) | ||||
|---|---|---|---|---|
| February | December | January | 2020 Gross sales | |
| $50 American Eagle 1 OuncesGold Coin | 3,500 | 2,000 | 38,000 | 41,500 |
| $25 American Eagle half OuncesGold Coin | 0 | 0 | 23,000 | 23,000 |
| $10 American Eagle 1/Four OuncesGold Coin | 2,000 | 0 | 18,000 | 20,000 |
| $5 American Eagle 1/10 OuncesGold Coin | 15,000 | 0 | 60,000 | 75,000 |
| $50 American Buffalo 1 OuncesGold Coin | 0 | 1,500 | 21,000 | 21,000 |
| $1 American Eagle 1 OuncesSilver Coin | 575,000 | 0 | 3,846,000 | 4,421,000 |
| $1 American Eagle 1 OuncesPlatinum Coin | 6,300 | 0 | 14,500 | 20,800 |
