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 |
Once again the real headline should be the very large swing in the PGMs – palladium & platinum! Amazing movement up & down for 2 days now. A bumpy ride for sure!
-NumisDudeTX
Also, not a single HF 5-oz silver bullion puck sold in two months now. The Mint’s 13 worldwide bullion coin APs are not interested in them obviously for some strange reason. Any guesses why?
-NumisDudeTX
As a proud RCM platinum plus member and Canadian, I am very selective with the coins I purchase. 5 -oz anything is a tough sell and an even tougher buy. Maybe one per year is a hit. The HF 5-oz silver bullion pucks you made mention of are a poor investment and possession to own. Investing is an art, but the appreciation of art and currency requires a coin of beauty and long term investment. These coins have none of those qualities. I hope your American mint listens to the consumer and starts to produce coins of not only unparalleled… Read more »
Mouse- I too am a RCM Masters Club Platinum member & respect your views. I live in the USA & have lived overseas in Japan 3 years & Germany 3 years, so I am well traveled. The RCM has fantastic customer service & marketing ability that the US Mint cannot match, even as the largest Mint in the world. Unlike the RCM, which is run as a corporation, the US Mint is controlled by the US Congress as to coinage issues per the US Constitution of 1789. The US Congress, not business professionals or numismatists basically tell the US Mint… Read more »