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:
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April platinum edged up 30 cents to $819.50 an ounce, ranging from $811.40 to $827.70.
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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 | |||
