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:
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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.
