Gold futures retreated Thursday from their sharp prior-day gains as investors grabbed some profits and rebounding stocks dimmed the yellow metal’s safe-haven appeal.
Gold for February delivery declined $8, or 0.7%, to settle at $1,098.20 an ounce on the Comex division of the New York Mercantile Exchange.
"Traders took a more risk-on approach, as crude oil and equities move higher," Bloomberg News quoted Phil Streible, a senior market strategist at RJO Futures in Chicago. "Investors are exiting flight-to-quality plays like gold and silver."
Gold prices ranged from a low of $1,092.50 to a high of $1,104.80. On Wednesday, they jumped $17.10, or 1.6%, to settle at their highest level since Jan. 7.
Falling for the first time in four sessions, silver for March delivery slipped 6.6 cents, or 0.5%, to settle at $14.094 an ounce. Silver prices traded between $13.885 and $14.21. They are still 1.4% higher on week.
In rounding out the precious metals complex:
April platinum edged up 30 cents to $819.50 an ounce, ranging from $811.40 to $827.70.
Palladium for March delivery gained $10, or 2%, to $499 an ounce, trading between $492.10 and $501.30.
London Precious Metals Prices
Earlier fixed London gold and silver prices declined as well. In comparing their levels from Wednesday PM to Thursday PM:
- Gold fell $5.25, or 0.5%, to $1,096.50 an ounce.
- Silver fell 4 cents, or 0.3%, to $14.01 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Sales in 2016
United States Mint bullion sales were unchanged Thursday as of 3:20 p.m. ET. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold during varying periods. Products with an asterisk (*) have sold out.
|US Mint Bullion Sales (# of coins)|
|Thursday||Last Week||This Week||Dec Sales||2016 Sales|
|$50 American Eagle 1 Oz Gold Coins||0||52,500||16,500||N/A||69,000|
|$25 American Eagle 1/2 Oz Gold Coins||0||14,000||4,000||1,000||18,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||26,000||2,000||N/A||28,000|
|$5 American Eagle 1/10 Oz Gold Coins||0||90,000||15,000||N/A||105,000|
|$50 American Buffalo 1 Oz Gold Coins||0||23,500||4,000||1,500||27,500|
|$1 American Eagle 1 Oz Silver Coins||0||4,000,000||950,000||2,333,500||4,950,000|
|2015 Homestead 5 Oz Silver Coins*||N/A||N/A|
|2015 Kisatchie 5 Oz Silver Coins*|
|2015 Blue Ridge Parkway 5 Oz Silver Coins*|
|2015 Bombay Hook 5 Oz Silver Coins*|
|2015 Saratoga 5 Oz Silver Coins*||N/A||9,200|