Gold and Silver Climb; US Mint Coin Sales Rise

Silver bullion bar, four gold bullion bars
Precious metals turned up Thursday, as did sales of U.S. Mint bullion coins

Gold settled higher on Thursday and for the first time this week, rebounding from a seven-week low. Other precious metals also advanced after days of declines.

Gold for April delivery added $7.40, or 0.6%, to close at $1,207.60 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold ended the U.S. day session with moderate gains, on follow-through strength following Wednesday afternoon’s dovish-FOMC-minutes-inspired rally," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "However, bearish outside markets — a firmer U.S. dollar index and lower crude oil prices — helped to push gold and silver prices well down from their daily highs."

Gold prices ranged from a low of $1,206.20 to a high of $1,222.90. The yellow metal closed on Wednesday at its lowest point since Jan. 2, although prices did bounce in after-hours trade.

Like gold, silver finished higher for the first time since Friday. Silver for March delivery rose 12 cents, or 0.7%, to settle at $16.38 an ounce. The precious metal traded between $16.32 and $16.77.

In other precious metals dealings:

  • April platinum gained $5.10, or 0.4%, to $1,172.30 an ounce, ranging from $1,164 to $1,184.90.

  • Palladium for March delivery jumped $10.20, or 1.3%, to $786.80 an ounce, trading between $775.20 and $790.05.

London Fix Precious Metals

Earlier fixed London precious metals changed little, except for silver. In comparing London bullion Fix prices from Wednesday PM to Thursday PM:

  • Gold added $3.50, or 0.3%, to $1,209.50 an ounce,
  • Silver advanced 31 cents, or 1.9%, to $16.73 an ounce,
  • Platinum declined $2, or 0.2%, to $1,170 an ounce, and
  • Palladium added $2, or 0.3%, to $781 an ounce.

US Mint Bullion Coin Sales in February

United States Mint bullion sales climbed Thursday with gains of 4,000 ounces in gold coins and 25,500 ounces in silver coins. Below are U.S. Mint bullion products with columns listing the number of bullion coins sold during varying time periods.

American Eagle and Buffalo Bullion Sales (# of coins)
Thursday Sales Last Week Current Week January Sales February Sales YTD Sales
$50 American Eagle Bullion Gold Coins 3,000 2,500 4,500 51,500 9,000 60,500
$25 American Eagle Bullion Gold Coins 0 2,000 0 18,000 2,000 20,000
$10 American Eagle Bullion Gold Coins 0 0 0 36,000 0 36,000
$5 American Eagle Bullion Gold Coins 0 30,000 5,000 115,000 40,000 155,000
$50 American Buffalo Bullion Gold Coins 1,000 4,000 3,000 34,500 9,000 43,500
$1 American Eagle Silver Bullion Coins 25,500 772,500 650,000 5,530,000 2,175,000 7,705,000
2015 Homestead 5 Oz Silver Bullion Coins 0 N/A 14,200 N/A 14,200 14,200


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