Gold futures declined for the fifth consecutive session to a near three-week low on Thursday.
Gold for August delivery dipped $1.10, or less than 0.1%, to end at $1,171.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since June 5 when gold closed at $1,168.10 an ounce.
"Gold looks to range trade between $1,169-$1,180 over the short term with the risk to the downside should positive news come out of the Greek debt negotiations," Samuel Laughlin, a metals dealer at MKS Group said in a note according to Reuters News.
Gold prices traded from a low of $1,170.50 to a high of $1,177.30. They have dropped by a combined $30.20, or 2.5%, since last ending higher one week ago.
Silver for July delivery declined 5 cents, or 0.3%, to settle at $15.81 an ounce. Silver prices ranged from $15.73 to $15.91. On Wednesday, they gained 12 cents or 0.7%.
In PGM futures on Thursday:
July platinum added $10.30, or 1%, to $1,084.40 an ounce, trading between $1,072.30 and $1,085.80.
- Palladium for September tumbled $16.35, or 2.4%, to $679.35 an ounce, ranging from $670 to $698.95.
London Precious Metals Prices
Earlier fixed London precious metals prices were mixed. In comparing London bullion prices from Wednesday PM to Thursday PM:
- Gold slipped $1.10, or 0.1%, to $1,172.65 an ounce,
- Silver fell 19 cents, or 1.2%, to $15.77 an ounce,
- Platinum added $8, or 0.7%, $1,075 an ounce, and
- Palladium declined $21, or 3%, to $679 an ounce.
US Mint Bullion Coin Sales in June
United States Mint bullion sales advanced Thursday with gold coins rising 9,000 ounces. American Eagle and Buffalo gold coin sales in June at 61,500 ounces and 16,000 ounces are the highest for a month since January.
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||6,500||18,000||12,500||13,500||50,500||186,500|
|$25 American Eagle 1/2 Oz Gold Coins||1,000||2,000||1,000||3,000||3,000||35,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||6,000||0||10,000||8,000||66,000|
|$5 American Eagle 1/10 Oz Gold Coins||10,000||20,000||20,000||40,000||75,000||380,000|
|$50 American Buffalo 1 Oz Gold Coins||1,000||6,500||3,500||9,500||16,000||91,500|
|$1 American Eagle 1 Oz Silver Coins||0||975,000||680,000||2,023,500||3,280,000||20,226,000|
|2015 Homestead 5 Oz Silver Coins*||–||35,000|
|2015 Kisatchie 5 Oz Silver Coins*||–||12,000||–||42,000|
|2015 Blue Ridge Parkway 5 Oz Silver Coins||–||35,000||N/A||35,000||35,000|