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|