Precious metals ended mixed Thursday. In a modest turnaround, gold futures closed higher for the first time in eleven sessions. Silver, however, logged a loss for the eighth time in nine sessions.
Gold for August delivery rose $2.60, or 0.2%, to settle at $1,094.10 an ounce on the Comex division of the New York Mercantile Exchange.
"We’ve seen a massive sell-off, and the market got ahead of itself," Bloomberg News quoted Chris Gaffney, the president of the EverBank World Markets in St. Louis. "Until we see some inflation creep back or some safe buying, the price is going to remain under pressure."
Gold prices ranged from a low of $1,089.40 to a high of $1,104.90. On Wednesday, they settled at their lowest price since March 25, 2010.
Silver for September delivery declined 3 cents, or 0.2%, to settle at $14.70 an ounce. Silver prices traded from $14.63 to $14.96. Tuesday, when it gained 3 cents, marked its most recent daily advance.
In PGM futures on Thursday:
October platinum added $1.20, or 0.1%, to $981.10 an ounce, ranging from $974.40 to $999.70.
- Palladium for September fell $8.90, or 1.4%, to $617.85 an ounce, trading between $614.40 and $641.50.
London Precious Metals Prices
London gold and silver prices climbed higher. In comparing London bullion prices from Wednesday PM to Thursday PM:
- Gold gained $8.80, or 0.8%, to $1,097.40 an ounce.
- Silver rose 10 cents, or 0.7%, to $14.88 an ounce.
LBMA platinum and palladium prices are displayed on the LBMA’s website with a delay of midnight after the setting of the prices each day.
US Mint Bullion Coin Sales in July
United States Mint bullion products advanced on Thursday with gold coins gaining 9,500 ounces — 1,500 ounces in American Buffalo gold coins and 8,000 ounces in American Eagle gold coins. American Gold Eagle sales at 126,500 ounces in July are the highest for a month since the April 2013 total of 209,500 ounces.
Silver sales remained muted. American Silver Eagles temporarily sold out on July 7. Their sales will resume on July 27.
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. Those with a double asterisk (**) are temporarily unavailable.
|US Mint Bullion Sales (# of coins)|
|Thursday Sales||Last Week||This Week||June Sales||July Sales||YTD Sales|
|$50 American Eagle 1 Oz Gold Coins||8,000||29,000||24,000||62,500||109,000||307,500|
|$25 American Eagle 1/2 Oz Gold Coins||0||2,000||2,000||4,000||6,000||42,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||6,000||2,000||12,000||20,000||90,000|
|$5 American Eagle 1/10 Oz Gold Coins||0||40,000||0||85,000||95,000||485,000|
|$50 American Buffalo 1 Oz Gold Coins||1,500||5,000||5,500||21,000||18,500||115,000|
|$1 American Eagle 1 Oz Silver Coins**||0||0||0||4,840,000||2,709,000||24,495,000|
|2015 Homestead 5 Oz Silver Coins*||–||35,000|
|2015 Kisatchie 5 Oz Silver Coins*||–||42,000|
|2015 Blue Ridge Parkway 5 Oz Silver Coins||0||7,600||0||35,000||7,600||42,600|