Precious metals futures ended mixed in their start to the new trading month on Thursday. Not a lot changed for gold. It retreated for the fifth time in six sessions, marking a fresh, almost 10-month low.
Gold for February delivery lost $4.50, or 0.4%, to close at $1,169.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the lowest since Feb. 5 when prices finished at $1,157.70 an ounce.
"The technical postures for both gold and silver markets remain solidly bearish," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Fundamentally, traders and investor optimism remain generally upbeat and that’s also negative for safe-haven gold."
Gold futures ranged from a low of $1,162.20 to a high of $1,178.40. In the previous session, they fell 1.4% to end November with a 7.8% loss — their worst monthly decline since June 2013.
Ending higher for the fourth time in five sessions, silver for March delivery added 2.4 cents, or nearly 0.2%, to settle at $16.506 an ounce. Silver futures traded between $16.30 and $16.68. They slipped 1.5% on Wednesday, driving their November loss to 7.4%.
In rounding out precious metals trading:
January platinum gained $1.40, or 0.2%, to $911.30 an ounce, ranging from $898.50 to $918.20.
- Palladium for March delivery tumbled $20.95, or 2.7%, to $751.70 an ounce, trading between $746.95 and $776.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Wednesday PM to Thursday PM:
- Gold declined $16.25, or 1.4%, to $1,161.85 an ounce.
- Silver dropped 37 cents, or 2.2%, to $16.30 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 gold and silver sales were unchanged Thursday following sharp to strong gains in November. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of 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||Nov Sales||2016 Sales|
|$100 American Eagle 1 Oz Platinum Coins*||–||20,000|
|$50 American Eagle 1 Oz Gold Coins||0||25,500||29,000||129,000||794,500|
|$25 American Eagle 1/2 Oz Gold Coins||0||1,000||1,000||7,000||71,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||4,000||2,000||18,000||150,000|
|$5 American Eagle 1/10 Oz Gold Coins||0||5,000||20,000||105,000||885,000|
|$50 American Buffalo 1 Oz Gold Coins||0||3,000||6,500||29,500||207,000|
|$1 American Eagle 1 Oz Silver Coins||0||690,000||175,000||3,061,000||37,461,500|
|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||1,200||0||1,500||38,000|
|2016 Theodore Roosevelt 5 Oz Silver Coins||0||6,000||-2,000||6,600||39,200|
|2016 Fort Moultrie 5 Oz Silver Coins||0||6,000||-3,000||27,800||27,800|