Gold Posts 6 Losses in a Row

Gold bar on top of silver bar
Precious metals continued their declines Thursday

Precious metals posted another day of losses Thursday. Gold closed at a fresh seven-week low and advanced its losing streak to six straight sessions.

Gold for December delivery shed $2, or 0.2%, to end at $1,104.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Sept. 15 when prices finished at $1,102.60 an ounce.

"The yellow metal is now hovering just above key psychological support at $1,100.00 heading into Friday morning’s important U.S. jobs report," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Traders and investors are awaiting Friday’s U.S. employment report from the Labor Department, which is arguably the most important data point of the week, if not the month," Wyckoff added.

Gold prices traded from a low of $1,103.60 to a high of $1,111.30. They have turned down 3.3% this week.

Dropping for a fourth consecutive day, silver for December delivery lost 8 cents, or 0.5%, to settle at $14.98 an ounce. The close was the lowest since Oct. 1. Silver prices ranged from $14.91 to $15.09. They are down on the week by 3.8%.

In PGM futures on Thursday

  • January platinum dipped $1.70, or 0.2%, to $953.10 an ounce, trading between $950.50 and $961.

  • Palladium for December delivery tumbled $17.10, or 2.7%, to $606.30 an ounce, ranging from $602.80 to $631.45.

London Precious Metals Prices

Earlier fixed London gold and silver prices also continued their declines. In comparing their prices from Wednesday PM to Thursday PM:

  • Gold fell $8.40, or 0.8%, to $1,106.30 an ounce.
  • Silver dropped 24 cents, or 1.6%, to $15.02 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint Bullion Coin Sales in October

United States Mint bullion sales were unchanged as of 4:33 p.m. ET. 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 / November Oct Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 0 3,500 1,500 26,000 547,500
$25 American Eagle 1/2 Oz Gold Coins 0 1,000 0 4,000 67,000
$10 American Eagle 1/4 Oz Gold Coins 0 0 0 4,000 146,000
$5 American Eagle 1/10 Oz Gold Coins 0 5,000 25,000 50,000 905,000
$50 American Buffalo 1 Oz Gold Coins 0 500 500 10,500 181,500
$1 American Eagle 1 Oz Silver Coins 0 856,500 763,500 3,788,000 40,606,000
2015 Homestead 5 Oz Silver Coins* Sold Out 35,000
2015 Kisatchie 5 Oz Silver Coins* 42,000
2015 Blue Ridge Parkway 5 Oz Silver Coins* 45,000
2015 Bombay Hook 5 Oz Silver Coins* 45,000
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