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:
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|