Precious metals posted only modest changes Thursday, with gold dropping 0.4% and silver advancing 0.1%.
Gold for June delivery dipped $4.60 to settle at $1,204.10 an ounce on the Comex division of the New York Mercantile Exchange.
"The yellow metal bulls were disappointed that ‘outside market’ forces were in a bullish posture for gold today — lower U.S. dollar index and sharply higher crude oil prices — yet gold prices could not rally," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "This suggests the gold market remains firmly gripped by technically oriented bears."
Gold prices traded from a low of $1,200.80 to a high of $1,212.40. They edged up 0.2% on Wednesday.
Higher for a second straight day, silver for July delivery added 2 cents to settle at $17.13 an ounce. Prices ranged from $17 to $17.25. They climbed 0.3% in the prior session.
In PGM futures on Thursday:
July platinum lost $4.60, or 0.4%, to $1,152.30 an ounce, trading between $1,145.10 and $1,159.50.
- Palladium for June delivery slipped 75 cents, or less than 0.1%, to $776.10 an ounce, ranging from $773.80 to $781.20.
London Precious Metals Prices
Earlier fixed London precious metals prices were mixed. In comparing London bullion prices from Wednesday PM to Thursday PM:
- Gold declined $5.50, or 0.5%, to $1,205 an ounce,
- Silver added 11 cents, or 0.6%, to $17.18 an ounce,
- Platinum fell $7, or 0.6%, to $1,146 an ounce, and
- Palladium lost $5, or 0.6%, to $776 an ounce.
US Mint Bullion Coin Sales in May
United States Mint bullion sales climbed for the first time in three days. Gold coins jumped 8,000 ounces and silver coins advanced 340,000 ounces.
Below is a listing of U.S. Mint bullion products that shows the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Thursday Sales||Last Week||Weekly Sales||April Sales||May Sales||YTD Sales|
|$50 American Eagle 1 Oz Gold Coins||5,000||1,000||5,500||23,500||9,000||131,500|
|$25 American Eagle 1/2 Oz Gold Coins||0||2,000||0||4,000||2,000||31,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||0||0||4,000||6,000||54,000|
|$5 American Eagle 1/10 Oz Gold Coins||10,000||5,000||10,000||30,000||30,000||295,000|
|$50 American Buffalo 1 Oz Gold Coins||2,000||2,000||3,000||10,000||6,500||72,500|
|$1 American Eagle 1 Oz Silver Coins||340,000||225,000||590,000||2,851,500||1,648,500||16,571,000|
|2015 Homestead 5 Oz Silver Coins*||–||35,000|
|2015 Kisatchie 5 Oz Silver Coins*||0||0||0||30,000||12,000||42,000|