Precious metals futures settled lower Thursday as the U.S. dollar rebounded and stocks rallied. Declines in gold and silver were their first in three days.
Gold for December delivery retreated $1.90, or 0.1%, to settle at $1,350 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold prices ended the U.S. day session with modest losses in a two-sided and lackluster trading session Thursday," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A rebound in the U.S. dollar index was a bearish outside market force working against the precious metals on this day."
Gold futures ranged from a low of $1,345.80 to a high of $1,359.40.
Silver for September delivery shed 15 cents, or 0.7%, to settle at $20.02 an ounce. Silver futures traded between $19.90 and $20.34.
In other precious metals futures on Thursday:
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October platinum dropped $26.40, or 2.2%, to $1,156.70 an ounce, ranging from $1,144.70 to $1,185.
- Palladium for September delivery tumbled $34.60, or 4.8%, to $691.80 an ounce, one day after notching their highest close since June 2015. The precious metal traded between $690 and $727.85.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold rose $7.30, or 0.5%, to $1,355 an ounce.
- Silver fell 12.5 cents, or 0.6%, to $20.21 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
United States Mint bullion sales were unchanged Thursday. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold during varying periods of time. Products with an asterisk (*) are no longer available.
| US Mint Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Thursday Sales | Last Week | This Week | July Sales | Aug Sales | 2016 Sales | |
| $100 American Eagle 1 Oz Platinum Coins | 0 | 0 | 0 | 19,000 | 0 | 19,000 |
| $50 American Eagle 1 Oz Gold Coins | 0 | 5,000 | 16,000 | 30,000 | 21,000 | 457,000 |
| $25 American Eagle 1/2 Oz Gold Coins | 0 | 0 | 0 | 2,000 | 0 | 48,000 |
| $10 American Eagle 1/4 Oz Gold Coins | 0 | 0 | 0 | 10,000 | 0 | 96,000 |
| $5 American Eagle 1/10 Oz Gold Coins | 0 | 5,000 | 15,000 | 50,000 | 20,000 | 575,000 |
| $50 American Buffalo 1 Oz Gold Coins | 0 | 0 | 1,500 | 10,000 | 1,500 | 124,000 |
| $1 American Eagle 1 Oz Silver Coins | 0 | 75,000 | 150,000 | 1,370,000 | 225,000 | 27,845,500 |
| 2016 Shawnee 5 Oz Silver Coins* | 0 | 0 | 0 | 0 | 0 | 105,000 |
| 2016 Cumberland Gap 5 Oz Silver Coins* | 0 | 0 | 0 | 0 | 0 | 75,000 |
| 2016 Harpers Ferry 5 Oz Silver Coins | 0 | 0 | 0 | 0 | 0 | 34,200 |
