Precious metals futures advanced for a second straight session. Gold led the way, closing at its highest price since May 14.
Gold for August delivery turned up $17.30, or 1.2%, to $1,415.80 an ounce on the Comex in New York. Prices hit an intraday low of $1,391.20 and touched a high of $1,423.30. Analysts cited improved safe-haven demand as stocks came under pressure with the U.S. dollar sinking against other currencies.
"We are starting to see investors being nervous about holding equities at these levels going forward, so you are going to see money flow back into the safe-haven markets," Reuters quoted Tom Power, senior commodities trader at futures brokerage R.J. O’Brien.
Silver for July delivery gained 23.5 cents, or 1.1% to $22.71 an ounce, ranging from $22.26 to $22.84.
In PGM futures:
July platinum rose $18.70, or 1.2%, to $1,529.30 an ounce, trading between $1,502.10 and $1,534.50.
Palladium for September delivery added $5.85, or 0.8%, to $762.30an ounce, ranging from $752.00 to $764.75.
London Fix Precious Metals
London precious metals were mixed for a fourth straight day. In contrasting the Wednesday PM to Thursday PM London Fix prices:
- Gold dipped $4.00, or 0.3%, to $1,400.00 an ounce,
- Silver jumped 25.0 cents, or 1.1%, to $22.62 an ounce,
- Platinum rose $12.00, or 0.8%, to $1,515.00 an ounce, and
- Palladium climbed $2.50, or 0.3%, to $756.50 an ounce
US Bullion Coin Sales in June
For a second consecutive day, sales levels were unchanged for U.S. Mint bullion coins. The following are daily, June and year-to-date bullion coin totals as provided by the United States Mint.
|American Eagle and Buffalo Bullion Coin Sales|
|Thursday Sales||Last Week||Week-To-Date / June||YTD Sales|
|$50 American Eagle Gold Bullion Coins||0||11,500||10,000||505,500|
|$25 American Eagle Gold Bullion Coins||0||0||0||42,000|
|$10 American Eagle Gold Bullion Coins||0||2,000||0||78,000|
|$5 American Eagle Gold Bullion Coins||0||60,000||20,000||380,000|
|$50 American Buffalo Gold Bullion Coins||0||1,500||3,000||147,500|
|White Mountain 5 oz. Silver Bullion Coins||0||2,500||0||25,800|
|Perry’s Victory 5 oz. Silver Bullion Coins||0||0||8,000||8,000|
|American Silver Eagle Bullion Coins||0||858,500||782,000||22,550,500|
Figures above are in the number of coins sold, not in ounces.