Gold started the new month on a down note Thursday, extending its losing streak to four sessions.
Gold for June delivery fell $12.50, or 1%, to finish at $1,283.40 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices ranged from a low of $1,277.30 to a high of $1,293.
"The failure to build any momentum after we came back to the $1,300 level triggered technical selling," Reuters quoted Bill O’Neill, partner at New Jersey commodities investment firm LOGIC Advisors. "Gold has failed to attract any flight to safety, and the ETF liquidation is a very big negative."
Gold hit the $1,300 an ounce closing on Friday but lost the mark on Monday.
In other precious metals on Thursday:
Silver for July delivery declined 13 cents, or 0.7%, to $19.04 an ounce, trading between $18.69 and $19.25.
July platinum dipped 40 cents, or less than 0.1%, to $1,427.50 an ounce, ranging from $1,412.10 to $1,429.30.
- Palladium for June delivery inched up $1.65, or 0.2%, to $814.15 an ounce, trading between $806.40 and $819.30.
London Fix Precious Metals
Earlier fixed London precious metals mostly declined. Palladium was also the exception. In contrasting the London fix prices from Wednesday PM to Thursday PM:
- Gold lost $10, or 0.8%, to $1,278.50 an ounce,
- Silver shed 22 cents, or 1.1%, to $19.06 an ounce,
- Platinum fell $12, or 0.8%, to $1,412 an ounce, and
- Palladium gained $12, or 1.5%, to $815 an ounce
US Mint Bullion Sales in March
Sales totals for United States Mint bullion coins were unchanged Thursday following a strong April. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins last week, the week-to-date, last month, and the year-to-date.
|American Eagle and Buffalo Bullion Sales (# of coins)|
|Thursday Sales||Sales Last Week||Week-To-Date Sales||April Sales||May Sales||YTD Sales|
|$100 American Platinum Eagle Bullion Coins||0||100||200||1,200||0||11,200|
|$50 American Eagle Gold Bullion Coins||0||3,000||3,500||26,000||0||126,500|
|$25 American Eagle Gold Bullion Coins||0||0||4,000||5,000||0||22,000|
|$10 American Eagle Gold Bullion Coins||0||2,000||0||20,000||0||62,000|
|$5 American Eagle Gold Bullion Coins||0||5,000||15,000||50,000||0||290,000|
|$50 American Buffalo Gold Bullion Coins||0||1,000||3,500||17,500||0||83,000|
|$1 American Eagle Silver Bullion Coins||0||1,246,500||915,500||4,590,500||0||18,469,500|
|Great Smoky Mountains National Park 5 Oz Silver Bullion Coins||N/A*||600||N/A*||10,600||0||23,000|
*The U.S. Mint on Monday, April 21, said it temporarily sold out of Great Smoky Mountains National Park 5 Oz Silver Bullion Coins and that it would have additional inventory available in a few weeks.