Gold futures bounced to an 11-week high Thursday as the U.S. dollar traded lower and investors sought some safety.
Gold for April delivery gained $11.10, or 0.9%, to settle at $1,219.40 an ounce on the Comex division of the New York Mercantile Exchange. The close is the highest since Nov. 16.
"There is no imminent concern of a Fed rate hike, and that gleams the green light on for the metals to move higher," Bloomberg News quoted David Meger, a director of metals trading at High Ridge Futures in Chicago. "The weakening dollar and the lack of concern of a Fed interest-rate hike, and slightly higher inflationary numbers in the market, all support the precious metals."
Gold futures ranged from a low of $1,210.20 to a high of $1,227.50. They slipped 0.3% in the previous session.
Lower for a second day in row after climbing for three straight, silver for March delivery lost 2.1 cents, or 0.1%, to settle at $17.429 an ounce. Silver futures traded between $17.41 and $17.75. In the previous session, they declined 0.5%. On Tuesday, they closed at their best point since Nov. 10.
In rounding out precious metals action:
April platinum edged down 20 cents, or less than 0.1%, to $999.60 an ounce, ranging from $998.50 to $1,015.
Palladium for March delivery fell $3.85, or 0.5%, to $759.05 an ounce, trading between $757.55 and $770.90.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Wednesday PM to Thursday PM:
- Gold added $18.30, or 1.5%, to $1,221.95 an ounce.
- Silver rose 11 cents, or 0.6%, to $17.71 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 2017
U.S. Mint bullion sales were unchanged as of 3:21 p.m. ET. This article will be updated if new figures become available by the end of the day.
Below is a sales breakdown of U.S. bullion products with columns listing 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||This Week||Jan Sales||Feb Sales||2017 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||20,000||0||20,000||0||20,000|
|$50 American Eagle 1 Oz Gold Coin||0||10,000||6,500||86,500||0||86,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||0||19,000||0||19,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||0||36,000||0||36,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||25,000||5,000||125,000||0||125,000|
|$50 American Buffalo 1 Oz Gold Coin||0||4,000||1,500||32,000||0||32,000|
|$1 American Eagle 1 Oz Silver Coin||0||325,000||230,000||5,127,500||0||5,127,500|
|2016 Shawnee 5 Oz Silver Coins*||–|
|2016 Cumberland Gap 5 Oz Silver Coin*||–|
|2016 Harpers Ferry 5 Oz Silver Coin||0||0||0||100||0||0|
|2016 Theodore Roosevelt 5 Oz Silver Coin*||–||0||–||800||–||–|
|2016 Fort Moultrie 5 Oz Silver Coin||0||0||0||0||0||0|