Gold Marks 5-Week High; US Mint Gold Sales Rise

Gold Bullion, five bars in total
Precious metals rallied for a second day

Precious metals surged for a second session in a row Thursday, each advancing 2.2%. Gold was the biggest winner, scoring a five-week high.

Gold for December delivery rallied $25.30 to close at $1,153.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since July 14 when gold finished at $1,153.50 an ounce.

"Gold ended the U.S. day session sharply up and scored a five-week high Thursday, on strong safe-haven demand for the yellow metal. The world market place was very uneasy on this day," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Pre-placed buy stop orders were also triggered in gold futures, to help drive prices even higher."

Gold prices ranged from a low of $1,132.10 to a high of $1,153.70. They advanced in the prior session by $11 or 1%.

Silver for September delivery tacked on 34 cents to settle at $15.52 an ounce. Silver prices traded between $15.26 and $15.56. They jumped on Wednesday by 39 cents or 2.6%.

In PGM futures on Thursday:

  • October platinum added $21.80 to $1,034.90 an ounce, ranging from $1,012.40 to $1,035.90.

  • Palladium for September delivery gained $13.50 to $623.50 an ounce, trading between $609.35 and $624.30.

London Precious Metals Prices

Earlier fixed London gold and silver prices were divided. In comparing London bullion prices from Wednesday PM to Thursday PM:

  • Gold rose $21.55, or 1.9%, to $1,147.70 an ounce.
  • Silver soared 66 cents, or 4.5%, to $15.50 an ounce.

LBMA platinum and palladium prices are displayed on the LBMA’s websitewith a delay of midnight after the setting of the prices each day.

US Mint Bullion Coin Sales in August

United States Mint gold sales advanced 4,500 ounces, with American Gold Eagles up 3,500 ounces and American Gold Buffalos up 1,000 ounces.

Sales of the agency’s American Silver Eagles will be muted until Monday. This past Monday, the Mint said it had set this week’s allocation of Silver Eagles to 1,187,500 coins. That level was reached on Wednesday.

Below is a listing of U.S. Mint bullion products with 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 This Week July Sales August Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 3,500 7,500 10,500 144,500 22,000 365,000
$25 American Eagle 1/2 Oz Gold Coins 0 1,000 2,000 10,000 3,000 49,000
$10 American Eagle 1/4 Oz Gold Coins 0 4,000 0 28,000 6,000 104,000
$5 American Eagle 1/10 Oz Gold Coins 10,000 15,000 35,000 135,000 55,000 580,000
$50 American Buffalo 1 Oz Gold Coins 1,000 3,000 1,500 32,000 5,500 134,000
$1 American Eagle 1 Oz Silver Coins 0 1,000,000 1,187,500 5,529,000 3,367,500 30,682,500
2015 Homestead 5 Oz Silver Coins* 35,000
2015 Kisatchie 5 Oz Silver Coins* 42,000
2015 Blue Ridge Parkway 5 Oz Silver Coins* 10,000 45,000


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