Gold prices stepped back for a third session Wednesday as disappointment weighed in over the Fed’s decision to extend its "Operation Twist" instead of starting another round of quantitative easing.
Gold prices for August delivery declined $7.40, or 0.5%, to settle at $1,615.80 an ounce on the Comex division of the New York Mercantile Exchange. Gold traded between an intraday low of $1,590.50 an ounce and a high of $1,623.60 an ounce.
"At least for the near term, it’s mainly a short-term negative for gold because it indicates that there won’t be immediate and new aggressive accommodation, and certainly no QE3 at all judging from this statement," said Bill O’Neill, partner of commodities wealth manager LOGIC Advisors in New Jersey, according to Reuters.
In other New York futures, July silver added 2.1 cents, or 0.1%, to $28.39 an ounce, September palladium prices declined $9.90, or 1.6%, to $619.50 an ounce and July platinum prices fell $13.70, or 0.9%, to to $1,466.80 an ounce.
The following grid offers precious metals futures on a daily basis along with the most recent weekly changes.
|New York Futures – Bullion Prices|
|July Silver Prices||$28.67||$28.37||$28.39||$0.021
|Aug. Gold Prices||$1,627.00||$1,623.20||$1,615.80||
|July Platinum Prices||$1,484.10||$1,480.50||$1,466.80||-$13.70
|Sept. Palladium Prices||$633.15||$629.40||$619.50||-$9.90
United States Mint Bullion Sales
For a second day this week, it was a no show for United States Mint bullion coins. The bureau reported no gains after the increases on Tuesday.
Current United States Mint bullion coin totals are offered in the daily, June and 2012 sales columns below.
|Sales of United States Mint 2012 Bullion Coins|
|1 oz American Eagle Gold Coins||0||3,500||0||24,000||254,000|
|1/2 oz American Eagle Gold Coins||0||0||0||1,000||55,000|
|1/4 oz American Eagle Gold Coins||0||0||0||2,000||48,000|
|1/10 oz American Eagle Gold Coins||0||0||0||5,000||155,000|
|1 oz American Buffalo Gold Coins||0||500||0||5,000||70,000|
|5 oz America the Beautiful Silver Coin||0||1,300||0||4,500||18,100|
|1 oz American Eagle Silver Coin||0||338,500||0||1,700,000||16,234,500|
Notes: The sales of bullion coins above are in numbers sold, not ounces sold.
In other coin news, read about
The second linked article describes legislation introduced in the U.S. House of Representatives that seeks commemorative clad, gold and silver coins to help celebrate the 100th anniversary of the National Park Service in year 2016.
London Bullion Prices
London bullion prices were lower across the board Wednesday after gaining on the previous day. The following grid provides London PM Fix daily bullion prices and latest two-day changes.
|London Bullion Prices (PM Fixings)|
Refer to this site’s home page for always updated bullion prices and news.