Precious metals futures closed lower for the first time in three sessions Thursday as investors booked profits. Gold and silver each slipped from one-month highs.
Gold for December delivery shed $4.90, or 0.4%, to settle at $1,303.30 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold prices ended the U.S. day session just modestly lower Thursday and well up from the sharp losses seen in early trading. Profit-taking was featured," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The early stronger selling pressure in gold and silver markets saw traders very willing to buy the dips, as the near-term technical postures for both metals has turned significantly more bullish this week."
Gold futures ranged from a low of $1,286.20 to a high of $1,308. They advanced 1.6% in the previous session, closing at their highest level since Oct. 3. Prices are 2.1% higher on the week to date.
Silver for December delivery lost 27.7 cents, or 1.5%, to settle at $18.416 an ounce. Silver futures traded between $17.99 and $18.65. They advanced 1.5% on Wednesday and ended at their best price since Oct 3. The white metal is 3.5% higher on the week to date.
In rounding out the trading action Thursday:
January platinum lost $7.40, or 0.7%, to $994.40 an ounce, ranging from $975.70 to $1,007.
- Palladium for December delivery sank $16.90, or 2.7%, to $617.60 an ounce, trading between $616.95 and $632.35.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Wednesday PM to Thursday PM:
- Gold declined $2.75, or 0.2%, to $1,301 an ounce.
- Silver declined 47 cents, or 2.5%, to $18.07 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 products logged gains of 2,500 ounces in American Gold Eagles and 500 ounces in American Gold Buffalos.
Below is a sales breakdown of U.S. Mint bullion coins with columns listing the number of bullion coins sold during varying periods Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Thursday Sales||Last Week||This Week||Oct Sales||Nov Sales||2016 Sales|
|$100 American Eagle 1 Oz Platinum Coins*||–||20,000|
|$50 American Eagle 1 Oz Gold Coins||2,500||17,500||17,000||100,500||10,500||676,000|
|$25 American Eagle 1/2 Oz Gold Coins||0||1,000||2,000||8,000||1,000||65,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||4,000||0||16,000||0||132,000|
|$5 American Eagle 1/10 Oz Gold Coins||0||20,000||10,000||75,000||5,000||780,000|
|$50 American Buffalo 1 Oz Gold Coins||500||3,500||6,500||28,500||3,500||181,000|
|$1 American Eagle 1 Oz Silver Coins||0||250,000||370,000||3,825,000||220,000||34,620,500|
|2016 Shawnee 5 Oz Silver Coins*||–||105,000|
|2016 Cumberland Gap 5 Oz Silver Coins*||–||75,000|
|2016 Harpers Ferry 5 Oz Silver Coins||0||0||0||200||0||36,500|
|2016 Theodore Roosevelt 5 Oz Silver Coins||0||500||300||3,100||300||32,900|