Gold declined Thursday for a third straight session and to a fresh nine-month low, but its loss was slight at less than 0.1%. The yellow metal gave up $47.40, or 3.0 %, in the two previous days.
Gold for June delivery dipped $1.10 to finish at $1,552.40 an ounce on the Comex in New York. The settlement price is the lowest since June 28. Gold marked an intraday low of $1,539.40 and a high of $1,559.30.
Silver also slipped modestly but in the process extended its losing streak to seven consecutive sessions. Silver for May delivery shed 3.0 cents, or 0.1%, to $26.767 an ounce, ranging from $26.575 to $27.015.
"Both gold and silver are within a hair of trading at their 2012 lows," Peter Hug, global trading director at Kitco Metals Inc., said in a daily market note, according to MarketWatch, adding that he would "look to flatten out" at the $1,530 level for gold, with the silver target at $26.30. "These levels must hold or further serious damage will occur, especially to gold, which may see a test of the $1,470 level."
PGMs continued lower for a third day:
July platinum declined $24.10, or 1.6%, to $1,517.80 an ounce, trading between $1,511.10 and $1,540.30.
- Palladium for June delivery plunged $30.00, or 4.0%, to $725.45 an ounce, ranging from $723.00 to $753.50.
London Bullion Prices
Precious metals in London fell across the board for a second straight day. When comparing the Wednesday PM to Thursday PM London fixings:
- Gold declined $28.25, or 1.8%, to $1,546.50 an ounce,
- Silver lost 39.0 cents, or 1.4%, to $26.80 an ounce,
- Platinum slumped $43.00, or 2.7%, to $1,526.00 an ounce, and
- Palladium sank $28.00, or 3.7%, to $737.00 an ounce
US Bullion Coin Sales in April
Sales of U.S. Mint bullion coins were limited Thursday to the one-ounce American Gold Eagle with its gain of 5,500. The Gold Eagle bullion series has registered sales every day in April for a total of 22,000 ounces. The level is the strongest for a week since the one ended Feb. 8.
The following are April and year-to-date bullion coin totals as reported by the U.S. Mint.
|American Eagle and Buffalo Bullion Coin Sales|
|Thursday Sales||Last Week||Week-To-Date / April Sales||YTD Sales|
|$50 American Eagle Gold Coins||5,500||13,500||19,000||265,500|
|$25 American Eagle Gold Coins||0||1,000||1,000||27,000|
|$10 American Eagle Gold Coins||0||4,000||2,000||48,000|
|$5 American Eagle Gold Coins||0||15,000||20,000||235,000|
|$50 American Buffalo Gold Coins||0||1,000||2,000||97,000|
|American Silver Eagle Bullion Coins||0||918,500||812,000||15,035,000|
All bullion figures above are in the number of coins sold. Calculate total ounces by using the bullion coin’s weight.
U.S. Mint authorized purchasers have claimed all the available America the Beautiful Five Ounce Silver Bullion Coins. The U.S. Mint has not yet released any of the 2013-dated versions.