Gold prices snapped a three-session winning streak on Thursday, sliding slightly from the prior-day when gold closed at a five-week high. Silver and other precious metals also retreated.
Gold for December delivery slipped $3.60, or 0.3%, to end at $1,241.20 an ounce on the Comex division of the New York Mercantile Exchange.
"Despite the share prices weakness and the concerns about growth that spread in the financial markets, people do not seem to be returning to the gold market en masse," Reuters quoted Julius Baer analyst Carsten Menke.
Gold prices traded from $1,235.20 to $1,245.60. The yellow metal for the week so far is up 1.6%.
Silver for December delivery shed almost 3 cents, or 0.2%, to settle at $17.44 an ounce. Prices ranged from $17.20 to $17.54.
In PGM futures on Thursday:
January platinum settled down $9, or 0.7%, to $1,251.90 an ounce, trading between $1,239.70 and $1,265.10.
- Palladium for December delivery fell $18.25, or 2.4%, to $746 an ounce, ranging from $729.95 to $771.25.
London Fix Precious Metals
Earlier fixed London precious metals were mixed. In contrasting London bullion Fix prices and the LBMA Silver Price from Wednesday PM to Thursday PM:
- Gold edged up a quarter to $1,237.75 an ounce,
- Silver gained 45 cents, or 2.7%, to $17.46,
- Platinum lost $15, or 1.2%, to $1,242 an ounce, and
- Palladium tumbled $44, or 5.6%, to $743 an ounce
US Mint Bullion Coin Sales in October
United States Mint bullion coin sales were unchanged Thursday as of 2:35 p.m. ET. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold last week, this week so far, last month, in October, and the year to date.
|American Eagle and Buffalo Bullion Sales (# of coins)|
|Thursday Sales||Last Week||Current Week||September Sales||October Sales||YTD Sales|
|$100 American Platinum Eagle Bullion Coins||N/A*||2,700||400||16,700|
|$50 American Eagle Bullion Gold Coins||0||24,500||2,000||50,500||30,500||326,500|
|$25 American Eagle Bullion Gold Coins||0||3,000||0||6,000||4,000||36,000|
|$10 American Eagle Bullion Gold Coins||0||6,000||0||8,000||6,000||98,000|
|$5 American Eagle Bullion Gold Coins||0||5,000||15,000||30,000||25,000||465,000|
|$50 American Buffalo Bullion Gold Coins||0||8,500||4,000||14,500||15,000||154,500|
|$1 American Eagle Silver Bullion Coins||0||870,000||430,000||4,140,000||2,950,000||35,201,000|
|Great Smoky Mountains National Park 5 Oz Silver Bullion Coins||0||0||0||3,500||0||33,000|
|Shenandoah National Park 5 Oz Silver Bullion Coins||0||0||0||1,000||0||21,500|
|Arches National Park 5 Oz Silver Bullion Coins||0||0||0||800||0||22,000|
|Great Sand Dunes 5 Oz Silver Bullion Coins||0||800||1,500||4,500||2,800||14,800|
*The U.S. Mint stopped selling bullion Platinum Eagles on Oct. 1. The agency will begin selling 2015-dated issues in early January.