Gold, silver and other precious metals on Thursday marked a second day of across the board declines. Gold and silver settled to fresh two-week lows, pressured as the dollar climbed against other world currencies.
Gold futures for December delivery declined $17, or 1.2%, to finish at $1,373 an ounce on the Comex division of the New York Mercantile Exchange. Trading action occurred between intraday levels of $1,364.70 and $1,400. Gold prices dropped lost $22, or 1.6%, on Wednesday. Investors are now looking ahead to Friday’s U.S. jobs numbers.
A government report showing the creation of about 100,000 jobs last month would likely "prompt markets to reduce the probability and the size of a September tapering, which could well send gold toward $1,488 an ounce," said TD Securities in a report Tuesday that was relayed on MarketWatch. "Conversely, a print above 200,000 would do the opposite, with prices moving toward $1,325 an ounce."
Silver futures for December delivery slipped 16 cents, or 0.7%, to end at $23.26 an ounce, ranging from $23.04 to $23.68. Silver prices on Wednesday plunged $1.01, or 4.2%.
Percent losses in PGMs weighed on the heavy side as well. In their closings on Thursday:
October platinum shed $12.60, or 0.8%, to $1,482.10 an ounce, trading between $1,472.80 and $1,502.90.
- Down for a sixth straight session, palladium for December delivery lost $11.05, or 1.6%, to $687.20 an ounce. The PGM ranged from $685.25 to $698.
London Fix Precious Metals
London precious metal fixings also declined for a second day. In contrasting their Wednesday PM to Thursday PM London fix prices:
- Gold dipped $5, or 0.4%, to $1,385 an ounce,
- Silver fell 19 cents, or 0.8%, to $23.52 an ounce,
- Platinum shed $9, or 0.6%, to $1,487 an ounce, and
- Palladium declined $10, or 1.4%, to $689 an ounce
U.S. Mint Bullion Sales in September
Sales totals for United States Mint bullion coins were unchanged Thursday after registering gains on Wednesday. A sales breakdown by U.S. Mint bullion product follows:
|American Eagle and Buffalo Bullion Sales|
|Thursday Sales||Last Week||Week-To-Date / September Sales||YTD Sales|
|$50 American Eagle Gold Bullion Coins||0||4,000||1,000||597,500|
|$25 American Eagle Gold Bullion Coins||0||0||1,000||49,000|
|$10 American Eagle Gold Bullion Coins||0||2,000||0||100,000|
|$5 American Eagle Gold Bullion Coins||0||0||0||455,000|
|$50 American Buffalo Gold Bullion Coins||0||1,500||500||190,500|
|White Mountain 5 oz. Silver Bullion Coins||0||1,200||0||31,200|
|Perry’s Victory 5 oz. Silver Bullion Coins||0||1,200||0||23,600|
|Great Basin 5 oz. Silver Bullion Coins||0||2,900||0||22,000|
|Fort McHenry 5 oz. Silver Bullion Coins||0||10,800||500||10,800|
|American Silver Eagle Bullion Coins||0||1,179,000||675,000||33,750,000|
Figures above are in the number of coins sold, not in ounces.