Gold futures advanced on Thursday for a fifth session in a row and closed at a more than two-month high as the flight to safe-havens continued.
Gold for February delivery gained $15.90, or 1.5%, to end at $1,107.80 an ounce on the Comex division of the New York Mercantile Exchange. The close was the highest since Nov. 3 when gold settled at $1,114.10 an ounce.
"Safe-haven demand amid plunging world stock markets and geopolitical uncertainty has been featured all this week," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily report. "Importantly, the near-term technical posture for gold has also improved markedly this week, which is prompting heavy short covering in the futures market and fresh chart-based buying interest."
Gold prices ranged from a low of $1,091.10 to a high of $1,109.40. The yellow metal advanced 1.3% on Wednesday, 0.3% on Tuesday, 1.4% on Monday and less than 0.1% a week ago Thursday. Gold for the week so far is up 4.5%.
Extending its winning streak to four sessions, silver for March delivery surged 36.8 cents, or 2.6%, to close at $14.344 an ounce. Silver prices traded between $13.92 and $14.39. The settlement was the highest since Dec. 24 when silver ended at $14.379 an ounce. Silver rose less than 0.1% on Wednesday, 0.9% on Tuesday and 0.3% on Monday. Prices are 3.9% higher than on Friday.
In rounding out the precious metals complex:
April platinum rose $2.50, or 0.3%, to $877.50 an ounce, ranging from $862.60 to $885.20.
- Palladium for March delivery fell $12.05, or 2.4%, to $493 an ounce, trading between $484.10 and $511.30.
London Precious Metals Prices
Earlier fixed London gold and silver prices advanced as well. In comparing their levels from Wednesday PM to Thursday PM:
- Gold added $14.95, or 1.4%, to $1,106.35 an ounce.
- Silver added 2.5 cents, or 0.2%, to $14.03 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Coin Sales in 2016
United States Mint bullion sales will take off on Monday, Jan. 11, when newly 2016-coins become available. Most of the 2015-dated issues sold out with product series scoring multi-year highs, like American Gold Buffalo and ATB five ounce coins, and an annual record, like American Silver Eagles.
Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold during varying periods. Products with an asterisk (*) have sold out.
|US Mint Bullion Sales (# of coins)|
|Thursday / This Week||Last Week||Dec Sales||2015 Sales||YTD Sales|
|$50 American Eagle 1 Oz Gold Coins*||N/A||N/A||N/A||626,500||N/A|
|$25 American Eagle 1/2 Oz Gold Coins||0||0||1,000||75,000||0|
|$10 American Eagle 1/4 Oz Gold Coins*||N/A||N/A||N/A||158,000||N/A|
|$5 American Eagle 1/10 Oz Gold Coins*||N/A||N/A||N/A||980,000||N/A|
|$50 American Buffalo 1 Oz Gold Coins||0||0||1,500||220,500||0|
|$1 American Eagle 1 Oz Silver Coins*||N/A||N/A||2,333,500||47,000,000||N/A|
|2015 Homestead 5 Oz Silver Coins*||N/A||35,000||N/A|
|2015 Kisatchie 5 Oz Silver Coins*||42,000|
|2015 Blue Ridge Parkway 5 Oz Silver Coins*||45,000|
|2015 Bombay Hook 5 Oz Silver Coins*||45,000|
|2015 Saratoga 5 Oz Silver Coins*||N/A||9,200||45,000|