Gold Falls, Silver Snaps 3-Session Win Streak

Five gold bars
Gold and silver declined Thursday while platinum and palladium advanced

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
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