Gold Rebounds 0.5%, US Mint Bullion Coins Gain

999.9 Fine Gold and Small Nuggets
Precious metals futures posted weekly losses that ranged from 0.3% for gold to 6.1% for palladium Dec 23
999.9 Fine Gold and Small Nuggets
Gold gained for the third time in four days. U.S. Mint gold and silver bullion coins also advanced.

Gold advanced for the third time this week, recouping a portion of the prior session’s loss.

Gold for August delivery gained $6.70, or 0.5%, to end at $1,284.20 an ounce on the Comex in New York. The precious metal traded in a narrow range with an intraday low of $1,273.30 and a high at $1,287.90.

"Physical demand is keeping the gold market alive," Sterling Smith, a Chicago-based commodity futures specialist at Citigroup Inc., said in a telephone interview according to Bloomberg News. "We also saw some technical buying come in."

In the previous session, gold declined from a more than three-week high when it lost $12.90, or 1%.

Silver dropped for a second day with September futures off 3.1 cents, or 0.2%, to $19.39 an ounce. The white metal ranged from $19.22 to $19.57. Silver plummeted in the prior session by 51.5 cents, or 2.6%.

In PGM futures in New York on Thursday:

  • October platinum tacked on $3.80, or 0.3%, to $1,414.80 an ounce, trading between $1,406.10 and $1,419.90.

  • Advancing in eight of the last nine sessions, palladium for September delivery settled up $12.05, or 1.6%, to $747.50 an ounce. Palladium ranged from $726.60 to $751.60.

London Fix Precious Metals

London precious metals split with all but palladium lower. In contrasting the Wednesday PM to Thursday PM London fixings:

  • Gold declined $14, or 1.1%, to $1,283.25 an ounce,
  • Silver fell 34 cents, or 1.7%, to $19.49 an ounce,
  • Platinum lost $11, or 0.8%, to $1,413 an ounce, and
  • Palladium edged up $3, or 0.4%, to $737 an ounce

US Bullion Coin Sales in July

Sales increases for United States Mint bullion products summed to 4,000 ounces in gold coins and 17,500 ounces in silver coins. Demand for the Mint’s core products, American Eagle gold and silver bullion coins, has already improved over last week.

The following table offers daily, July and year-to-date bullion coin totals as published by the U.S. Mint on its website.

American Eagle and Buffalo Bullion Coin Sales
  Thursday Sales Last Week Week-To-Date Sales July Sales YTD Sales
$50 American Eagle Gold Bullion Coins 3,500 5,000 6,500 26,500 571,000
$25 American Eagle Gold Bullion Coins 0 0 0 4,000 47,000
$10 American Eagle Gold Bullion Coins 0 2,000 2,000 6,000 92,000
$5 American Eagle Gold Bullion Coins 5,000 0 10,000 25,000 440,000
$50 American Buffalo Gold Bullion Coins 0 6,000 2,000 13,500 175,000
White Mountain 5 oz. Silver Bullion Coins 1,100 800 1,100 2,900 29,900
Perry’s Victory 5 oz. Silver Bullion Coins 2,400 2,400 2,400 5,800 20,000
Great Basin 5 oz. Silver Bullion Coins 0 2,000 1,200 7,500 17,400
American Silver Eagle Bullion Coins 0 830,500 875,000 2,531,500 27,575,000


Figures above are in the number of coins sold, not in ounces.

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