Gold Rises, Silver Climbs From More Than 6-Month Low

by CoinNews.net on July 6, 2017 · 0 comments

Three Gold Bullion Bars, Dark Background

Gold, silver and platinum futures increased slightly Thursday while palladium declined

Precious metals futures ended mixed again on Thursday. Gold edged higher for a second day in a row while silver stepped up from a more than six-month low.

Gold for August delivery climbed $1.60, or 0.1%, to settle at $1,223.30 an ounce on the Comex division of the New York Mercantile Exchange. The close is the highest since Friday.

"A slightly downbeat U.S. ADP jobs number aided the precious metals markets bulls just a bit today," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The key ‘outside markets’ were also in a bullish daily posture for the metals, as the U.S. dollar index was solidly lower and crude oil prices were higher."

Gold futures ranged from a low of $1,221.80 to a high of 1,229.50. They gained 0.2% in the previous session and declined 1.9% on Monday, closing at their lowest point since May 10.

Silver for September delivery settled up 8.7 cents, or 0.6%, to $15.983 an ounce. Silver futures ranged from $15.91 to $16.08. They dropped 1.2% on Wednesday, marking their weakest settlement since Dec. 23, and tumbled 3.2% in starting the week on Monday.

In other precious metals futures prices:

  • October platinum rose $1.50, or 0.2%, to $910.30 an ounce, ranging from $906 to $913.50.

  • Palladium for September declined $2.20, or 0.3%, to $832.20 an ounce, trading between $827.50 and $843.25.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:

  • Gold added $4.60, or 0.4%, to $1,224.90 an ounce.
  • Silver rose 6 cents, or 0.4%, to $16.01 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint Bullion Sales in 2017

United States Mint bullion sales were unchanged. 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 Last Week Week / July June YTD
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 0 1,000 1,500 4,000 142,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 0 27,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 4,000 0 52,000
$5 American Eagle 1/10 Oz Gold Coin 0 10,000 15,000 20,000 275,000
$50 American Buffalo 1 Oz Gold Coin 0 1,000 1,000 2,000 67,000
$1 American Eagle 1 Oz Silver Coin 0 280,000 320,000 986,000 12,553,500
2017 Effigy Mounds 5 Oz Silver Coin 0 0 0 8,800 35,000
2017 Frederick Douglass 5 Oz Silver Coin 0 0 0 0 20,000
2017 Ozark Riverways 5 Oz Silver Coin 0 0 0 20,000 20,000

 

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