Gold Snaps 5-Session Losing Streak After Hitting 4-Week low

Precious metals futures ended divided Thursday, Jan. 8, with gold and silver higher and platinum and palladium lower

Gold futures logged their first gain in five sessions Thursday, rising slightly from a four-week low on safe-haven support as U.S. stocks tumbled.

Gold for April delivery added $4.40, or 0.3%, to settle at $1,319 an ounce on the Comex division of the New York Mercantile Exchange.

"Another big sell off in the U.S. stock market prompted safe-haven demand in both gold and silver markets," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Bargain hunters also stepped into both markets after they had dropped to multi-week lows early on today."

Gold futures traded from a low of $1,309 to a high of $1,324.50. They dropped 1.1% on Wednesday — ending at their lowest price since Jan. 9, shed 0.5% on Tuesday, and dipped less than 0.1% on Monday.

Silver for March delivery rose 10.3 cents, or 0.6%, to settle at $16.341 an ounce. Silver futures ranged from $16.19 to $16.43. They sank 2.1% on Wednesday — finishing at their weakest price since Dec. 19, shed 0.6% on Tuesday, and lost 0.2% on Monday.

In rounding out precious metals dealings:

• April platinum declined $3.30, or 0.3%, to $978.40 an ounce, trading between $972.60 and $986.40.

• Palladium for March delivery fell $22.35, or 2.3%, to $962.20 an ounce, ranging from $955.10 to $983.90.

London Precious Metals Prices

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

• Gold declined $9.20, or 0.7%, to $1,315.45 an ounce.
• Silver fell 34.5 cents, or 2.1%, to $16.345 an ounce.

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

US Mint Bullion Sales in 2018

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.