Gold Drops for First Time in Four Days, Silver Gains for Second

US Dollars and Gold Bullion Bars
Most precious metals ended lower Thursday. Silver was nearly flat, rising less than a penny.

Gold prices fell for the first time this week, snapping a three-session winning streak and slipping from a more than one-week high.

Gold for August delivery declined $6.20, or 0.5%, to settle at $1,180.40 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices ended the U.S. day session moderately lower Thursday, succumbing to the forces of bearish outside market–a higher U.S. dollar index and lower crude oil prices," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A rebound in world stock markets late this week is also a negative for gold."

Gold prices traded from a low of $1,174.80 to a high of $1,187.40. They had climbed by a total of $18.50, or 1.6%, through the prior three sessions, closing Wednesday at their highest level since June 2.

Silver prices ended higher for a second session in a row after falling for five straight. Recent movements have been very modest, however. Silver for July delivery added one-tenth of a cent to settle at $15.96 an ounce. Silver prices ranged from $15.77 to $16.04. They moved higher on Wednesday by less than a half cent.

In rounding out the precious metals futures complex:

  • July platinum declined $10, or 0.9%, to $1,105.20 an ounce, trading between $1,101.50 and $1,117.20.

  • Palladium for September delivery shed 65 cents, or less than 0.1%, to $742.85 an ounce, ranging from $737.60 to $747.25.

London Precious Metals Prices

Earlier fixed London precious metals prices declined. In comparing London bullion prices from Wednesday PM to Thursday PM:

  • Gold fell $10, or 0.8%, to $1,178.50 an ounce,
  • Silver declined 26 cents, or 1.6%, to $15.87 an ounce,
  • Platinum dropped $9, or 0.8%, $1,108 an ounce, and
  • Palladium fell $3, or 0.4%, to $746 an ounce.

US Mint Bullion Coin Sales in June

United States Mint bullion sales were unchanged for a second straight day following strong gains on Monday and Tuesday. 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 Current Week May Sales June Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 0 10,500 9,500 13,500 20,000 156,000
$25 American Eagle 1/2 Oz Gold Coins 0 0 0 3,000 0 32,000
$10 American Eagle 1/4 Oz Gold Coins 0 0 2,000 10,000 2,000 60,000
$5 American Eagle 1/10 Oz Gold Coins 0 15,000 20,000 40,000 35,000 340,000
$50 American Buffalo 1 Oz Gold Coins 0 3,000 3,000 9,500 6,000 81,500
$1 American Eagle 1 Oz Silver Coins 0 975,000 650,000 2,023,500 1,625,000 18,571,000
2015 Homestead 5 Oz Silver Coins* 35,000
2015 Kisatchie 5 Oz Silver Coins*   12,000 42,000


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