Gold settled to a three-month high on Thursday while silver marked its best close since late January. Both, along with platinum, are riding a three-day winning streak.
Gold for June delivery tacked on $7, or 0.6%, to end at $1,225.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement price was the highest since Feb 13 when gold closed at $1,227.10 an ounce.
"Gold and silver bulls have gained upside technical momentum this week. Buy stop orders were triggered in both gold and silver futures markets Thursday, to help push prices higher," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Some slight safe-haven demand for gold is also seen this week."
Gold prices ranged from a low of $1,211.90 to a high of $1,227.70. They advanced 2.2% in the previous session and have rallied 3.1% since Friday.
Silver for July delivery settled up 24 cents, or 1.4%, to $17.47 an ounce, trading between $17.07 and $17.59. The settlement was the highest since Jan. 27. Silver prices on the week are up $1, or 6.1%.
In PGM futures on Thursday:
July platinum rose $11.60, or 1%, to $1,162.40 an ounce, ranging from $1,146.50 to $1,166.80.
- Palladium for June delivery declined $9.90, or 1.3%, to $779.50 an ounce, trading between $775.50 and $790.10.
London Precious Metals Prices
Earlier fixed London precious metals prices moved in the same directions as New York bullion futures. In comparing London bullion prices from Wednesday PM to Thursday PM:
- Gold rose $14.50, or 1.2%, to $1,225 an ounce,
- Silver jumped 75 cents, or 4.5%, to $17.40 an ounce,
- Platinum added $9, or 0.8%, to $1,152 an ounce, and
- Palladium fell $7, or 0.9%, to $779 an ounce.
US Mint Bullion Coin Sales in May
United States Mint bullion sales were unchanged Thursday as of 4:20 PM ET. Below is a listing of U.S. Mint bullion products that shows the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Thursday Sales||Last Week||Monday Sales||April Sales||May Sales||YTD Sales|
|$50 American Eagle 1 Oz Gold Coins||0||2,500||1,000||23,500||3,500||126,000|
|$25 American Eagle 1/2 Oz Gold Coins||0||0||2,000||4,000||2,000||31,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||6,000||0||4,000||6,000||54,000|
|$5 American Eagle 1/10 Oz Gold Coins||0||15,000||5,000||30,000||20,000||285,000|
|$50 American Buffalo 1 Oz Gold Coins||0||1,500||2,000||10,000||3,500||69,500|
|$1 American Eagle 1 Oz Silver Coins||0||833,500||225,000||2,851,500||1,058,500||15,981,000|
|2015 Homestead 5 Oz Silver Coins*||–||35,000|
|2015 Kisatchie 5 Oz Silver Coins*||0||12,000||0||30,000||12,000||42,000|