Precious metals futures advanced on Thursday, with the exception of gold which posted a third straight session loss as the U.S. dollar rallied.
Gold for June delivery shed $2.10, or 0.2%, to settle at $1,272.30 an ounce on the Comex division of the New York Mercantile Exchange.
"The rally slowly faded as the dollar strengthened," Bloomberg News quoted David Meger, the director of metals trading at High Ridge Futures in Chicago. "That dollar strength is certainly pressuring gold."
Gold prices traded from a low of $1,270.60 to a high of $1,288.40. As recently as Monday, the yellow metal ended at $1,295.80 an ounce — its best price since Jan. 27, 2015.
Snapping a three-session losing streak, silver for May delivery added 2.6 cents, or 0.2%, to $17.327 an ounce. Silver prices ranged from $17.28 to $17.69.
In PGM futures on Thursday:
July platinum gained $8.20, or 0.8%, to $1,063.80 an ounce, trading between $1,051 and $1,071.40.
- Palladium for June delivery climbed $4.25, or 0.7%, to $600.70 an ounce, ranging from $597 to $609.95.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold declined $2.75, or 0.2%, to $1,280.25 an ounce.
- Silver added 20 cents, or 1.2%, to $17.38 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 2016
U.S. Mint bullion sales rose by 7,000 ounces in American Eagle and Buffalo gold coins and by 325,500 ounces in American Silver Eagles.
The U.S. Mint this week allocated sales of American Silver Eagles to 1,085,500 coins, which includes 85,500 coins carried over from last week. Distributors order 92.2% of them through Thursday. 2016 Silver Eagles are at a record sales pace of 19,915,500 coins, representing a 26.8% increase over the same time in record year 2015.
Below is a sales breakdown of United States Mint bullion products with columns listing the number of bullion coins sold during varying periods.
|US Mint Bullion Sales (# of coins)|
|Thursday Sales||Last Week||This Week / May||Mar Sales||Apr Sales||2016 Sales|
|$50 American Eagle 1 Oz Gold Coins||2,500||15,500||10,000||29,000||93,500||289,000|
|$25 American Eagle 1/2 Oz Gold Coins||3,000||1,000||3,000||1,000||6,000||39,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||2,000||0||4,000||14,000||66,000|
|$5 American Eagle 1/10 Oz Gold Coins||5,000||15,000||10,000||75,000||55,000||385,000|
|$50 American Buffalo 1 Oz Gold Coins||2,500||3,500||5,500||7,000||19,500||85,000|
|$1 American Eagle 1 Oz Silver Coins||325,500||1,002,000||1,001,000||4,106,000||4,072,000||19,915,500|
|2016 Shawnee 5 Oz Silver Coins||0||0||0||0||0||105,000|
|2016 Cumberland Gap 5 Oz Silver Coins||0||0||0||0||64,000||64,000|