Gold, Silver Retreat; US Mint Gold Bullion Coins Rise

One gold bullion bar and graph
Most precious metals futures declined Thursday. Gold slipped 0.9% while silver and platinum each lost 1.6%. Palladium inched up 15 cents.

Gold futures turned lower for a second session straight Thursday, falling further from the 2-month high reached earlier in the week as the U.S. dollar continued to firm.

Gold for February delivery declined $10.60, or 0.9%, to settle at $1,201.50 an ounce on the Comex division of the New York Mercantile Exchange. Gold futures ranged from a low of $1,195.40 to a high of $1,206.40. They slipped less than 0.1% on Wednesday after posting their best close since Nov. 17 on Tuesday.

"Gold and silver prices ended the U.S. day session lower Thursday, on downside corrections and some profit taking following recent good gains," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A rally in the U.S. dollar index on this day was also a negative for the precious metals markets."

Closing lower for the first time in three sessions, silver for March delivery dropped 27.2 cents, or 1.6%, to $17.002 an ounce. Silver futures ranged from $16.74 to $17.13. In the previous session, they ended at their best point since Dec. 7.

In other precious metals futures Thursday:

  • April platinum lost $15.50, or 1.6%, to $956.40 an ounce, trading between $951.20 and $970.50.

  • Palladium for March delivery edged up 15 cents to $751.15 an ounce, ranging from $744.35 to $755.50.

London Precious Metals Prices

In comparing earlier fixed London bullion prices from Wednesday PM to Thursday PM:

  • Gold fell $18.70, or 1.5%, to $1,196.05 an ounce.
  • Silver declined 17 cents, or 1%, to $16.95 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 2017

United States Mint bullion sales rose by 6,000 ounces in gold coins, with splits of 5,500 ounces in American Gold Eagles and 500 ounces in American Gold Buffalos.

In related news, the U.S. Mint on Monday, Jan. 23, will release its bullion 2017-dated American Platinum Eagle.

Below is a sales breakdown of U.S. 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 Dec Sales Jan Sales
$50 American Eagle 1 Oz Gold Coins 4,500 55,500 14,500 23,000 70,000
$25 American Eagle 1/2 Oz Gold Coins 0 18,000 0 3,000 18,000
$10 American Eagle 1/4 Oz Gold Coins 2,000 30,000 4,000 2,000 34,000
$5 American Eagle 1/10 Oz Gold Coins 5,000 85,000 10,000 40,000 95,000
$50 American Buffalo 1 Oz Gold Coins 500 24,500 2,000 12,500 26,500
$1 American Eagle 1 Oz Silver Coins 0 3,747,500 825,000 240,000 4,572,500
2016 Shawnee 5 Oz Silver Coins*
2016 Cumberland Gap 5 Oz Silver Coins*
2016 Harpers Ferry 5 Oz Silver Coins 0 0 0 100 0
2016 Theodore Roosevelt 5 Oz Silver Coins* 800
2016 Fort Moultrie 5 Oz Silver Coins 0 0 0 0 0


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