Gold futures declined for a third straight session Thursday, after scoring a 1-month high on Monday, and are now 50 cents lower on the week to date.
Gold for June delivery settled down $8.80, or 0.7% to $1,248 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the weakest since a week ago, March 23.
"The precious metal saw more profit-taking pressure from recent gains, as well as a downside technical correction," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A solid rebound in the U.S. dollar index from its early-week low also worked against the precious metals markets today."
Gold futures ranged from a low of $1,246.60 to a high of $1,256.50. They lost 0.2% on Wednesday, shed a dime on Tuesday, and climbed 0.6% on Monday when they ended at their best price since Feb. 27.
Elsewhere, silver for May delivery lost 4.6 cents, or 0.3%, to close at $18.206 an ounce. Silver futures traded between $18.07 and $18.32. They were flat on Wednesday, gained 0.8% on Tuesday, and jumped 2% on Monday. The closing price in the prior two sessions was the highest since March 1.
In other precious metals dealings:
-
July platinum dipped 60 cents, or less than 0.1%, to $955.70 an ounce, ranging from $953.20 to $963.50.
- Palladium for June delivery rose $7.30, or 0.9%, to $797.50 an ounce, trading between $786.70 and $804.95.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Wednesday PM to Thursday PM:
- Gold declined $2.30, or 0.2%, to $1,248.80 an ounce.
- Silver shed 3 cents, or 0.2% to $18.10 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
United States Mint bullion product advances for the day included:
- 1,000 ounces in American Gold Eagles;
- 1,500 ounces in American Gold Buffalos; and
- 295,000 ounces in American Silver Eagles.
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 | Feb Sales | Mar Sales | 2017 Sales | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 20,000 |
| $50 American Eagle 1 Oz Gold Coin | 500 | 8,500 | 1,500 | 21,000 | 16,000 | 123,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 5,000 | 1,000 | 25,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 2,000 | 0 | 2,000 | 4,000 | 4,000 | 44,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 0 | 30,000 | 35,000 | 190,000 |
| $50 American Buffalo 1 Oz Gold Coin | 1,500 | 4,000 | 1,500 | 15,000 | 8,500 | 55,500 |
| $1 American Eagle 1 Oz Silver Coin | 295,000 | 795,000 | 320,000 | 1,215,000 | 1,615,000 | 7,957,500 |
| 2017 Effigy Mounds 5 Oz Silver Coin | 0 | 0 | 200 | 19,500 | 200 | 19,700 |
| 2016 Shawnee 5 Oz Silver Coins* | – | |||||
| 2016 Cumberland Gap 5 Oz Silver Coin* | – | |||||
| 2016 Harpers Ferry 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 0 |
| 2016 Theodore Roosevelt 5 Oz Silver Coin* | – | |||||
| 2016 Fort Moultrie 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 0 |
