Gold Falls, Silver Rises for 6th Session; US Coins Rise

Two gold bullion bars
Silver closed higher Thursday while gold, platinum and palladium declined

Gold futures ended at a one-week low Thursday, down for a second straight day and for their seventh loss in nine sessions. Silver, meanwhile, posted a sixth gain in a row.

Gold for December delivery declined $9.10, or 0.8%, to close at $1,124.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the lowest since Aug. 27 and the daily drop the biggest since Aug. 26.

"No help for gold today: jobless claims, ECB hold(ing) rates unchanged, gains in stocks and wages show(ing) no inflation," Reuters quoted RBC Wealth Management adviser George Gero.

Gold prices traded from a low of $1,121 to a high of $1,133.80. On Wednesday, they turned down $6.20, or 0.5%.

Silver for December delivery added 4 cents, or 0.3%, to settle at $14.71 an ounce. Silver prices ranged from $14.55 to $14.95. They have advanced nearly 5% since last ending lower on Aug. 26.

In PGM futures on Thursday:

  • October platinum lost $3.50, or 0.4%, to $1,010.10 an ounce, trading between $1,002.90 and $1,024.

  • Palladium for December delivery shed $1.80, or 0.3%, to $581.55 an ounce, ranging from $573.95 to $592.15.

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 declined $9.75, or 0.9%, to $1,128 an ounce.
  • Silver gained 15 cents, or 1%, to $14.71 an ounce.

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

US Mint Bullion Coin Sales in September

United States Mint gold sales moved up by 4,500 ounces Thursday with American Gold Eagles gaining 3,500 ounces and American Gold Buffalo coins rising 1,000 ounces.

All available silver coins sold for the week. The U.S. Mint continues to restrict sales of American Silver Eagles. The agency allocated 1 million for this week and the last went on Wednesday. Even with the Mint’s weekly restrictions, 2015 Silver Eagle sales at 32,495,000 coins are on a record pace. In 2014 when sales ended at a record 44,006,000, the coins by Sept. 3, 2014 reached sales of 28,111,000.

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 August Sales Sept Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 2,000 47,500 21,000 78,500 12,000 433,500
$25 American Eagle 1/2 Oz Gold Coins 0 4,000 2,000 8,000 1,000 55,000
$10 American Eagle 1/4 Oz Gold Coins 0 12,000 6,000 24,000 0 122,000
$5 American Eagle 1/10 Oz Gold Coins 15,000 40,000 75,000 130,000 40,000 695,000
$50 American Buffalo 1 Oz Gold Coins 1,000 12,000 7,000 20,000 4,500 153,000
$1 American Eagle 1 Oz Silver Coins 0 812,500 1,000,000 4,935,000 245,000 32,495,000
2015 Homestead 5 Oz Silver Coins*   35,000
2015 Kisatchie 5 Oz Silver Coins*   42,000
2015 Blue Ridge Parkway 5 Oz Silver Coins*   45,000


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