Gold Snaps 5-Session Losing Streak

by CoinNews.net on September 10, 2015 · 0 comments

Gold and Silver Bullion, Gold Nugget

Precious metals turned higher Thursday

Precious metal futures bounced from losses on Wednesday, with gold closing higher for the first time in six sessions and up from a one-month low.

Gold for December delivery tacked on $7.30, or 0.7%, to settle at $1,109.30 an ounce on the Comex division of the New York Mercantile Exchange.

"Concerns about the global economy are back," Phil Streible, a senior market strategist at RJO Futures, said in a telephone interview from Chicago according to Bloomberg News. "Traders are quick on the trigger to get back into the safety of gold."

Gold prices traded from a low of $1,102.50 to a high of $1,114.10. They dropped 1.7% on Wednesday to settle at their lowest level since Aug. 7.

In other precious metals futures on Thursday:

  • Silver for December delivery advanced 7 cents, or 0.5%, to $14.65 an ounce, ranging from $14.54 to $14.85.

  • October platinum was flat at $981.20 an ounce, trading between $977.30 and $992.90.

  • Palladium for December delivery jumped $14.55, or 2.5%, to $592.50 an ounce, ranging from $573.70 to $593.75.

London Precious Metals Prices

Earlier fixed London gold and silver prices eased lower. In comparing prices from Wednesday PM to Thursday PM:

  • Gold dipped 35 cents to $1,109.50 an ounce.
  • Silver lost a nickel, or 0.3%, to $14.72 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 September

United States Mint bullion sales were unchanged Thursday as of 2:40 p.m. ET. Below is a listing of United States Mint bullion products with 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 Current Week August Sales Sept Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 0 28,500 17,500 78,500 37,000 458,500
$25 American Eagle 1/2 Oz Gold Coins 0 3,000 0 8,000 2,000 56,000
$10 American Eagle 1/4 Oz Gold Coins 0 8,000 2,000 24,000 4,000 126,000
$5 American Eagle 1/10 Oz Gold Coins 0 80,000 10,000 130,000 55,000 710,000
$50 American Buffalo 1 Oz Gold Coins 0 8,000 3,500 20,000 9,000 157,500
$1 American Eagle 1 Oz Silver Coins 0 1,000,000 909,500 4,935,000 1,154,500 33,405,500
2015 Homestead 5 Oz Silver Coins* 35,000
2015 Kisatchie 5 Oz Silver Coins* 42,000
2015 Blue Ridge Parkway 5 Oz Silver Coins* 45,000

 

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