Precious metal futures bounced from losses on Wednesday, with gold closing higher for the first time in six sessions and up from a one-month low.
Gold for December delivery tacked on $7.30, or 0.7%, to settle at $1,109.30 an ounce on the Comex division of the New York Mercantile Exchange.
"Concerns about the global economy are back," Phil Streible, a senior market strategist at RJO Futures, said in a telephone interview from Chicago according to Bloomberg News. "Traders are quick on the trigger to get back into the safety of gold."
Gold prices traded from a low of $1,102.50 to a high of $1,114.10. They dropped 1.7% on Wednesday to settle at their lowest level since Aug. 7.
In other precious metals futures on Thursday:
Silver for December delivery advanced 7 cents, or 0.5%, to $14.65 an ounce, ranging from $14.54 to $14.85.
October platinum was flat at $981.20 an ounce, trading between $977.30 and $992.90.
- Palladium for December delivery jumped $14.55, or 2.5%, to $592.50 an ounce, ranging from $573.70 to $593.75.
London Precious Metals Prices
Earlier fixed London gold and silver prices eased lower. In comparing prices from Wednesday PM to Thursday PM:
- Gold dipped 35 cents to $1,109.50 an ounce.
- Silver lost a nickel, or 0.3%, to $14.72 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 bullion sales were unchanged Thursday as of 2:40 p.m. ET. Below is a listing of United States 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||Current Week||August Sales||Sept Sales||YTD Sales|
|$50 American Eagle 1 Oz Gold Coins||0||28,500||17,500||78,500||37,000||458,500|
|$25 American Eagle 1/2 Oz Gold Coins||0||3,000||0||8,000||2,000||56,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||8,000||2,000||24,000||4,000||126,000|
|$5 American Eagle 1/10 Oz Gold Coins||0||80,000||10,000||130,000||55,000||710,000|
|$50 American Buffalo 1 Oz Gold Coins||0||8,000||3,500||20,000||9,000||157,500|
|$1 American Eagle 1 Oz Silver Coins||0||1,000,000||909,500||4,935,000||1,154,500||33,405,500|
|2015 Homestead 5 Oz Silver Coins*||–||35,000|
|2015 Kisatchie 5 Oz Silver Coins*||–||42,000|
|2015 Blue Ridge Parkway 5 Oz Silver Coins*||–||45,000|