Gold futures traded lower for a third straight session Thursday, closing at a more than 2-week low as the U.S. dollar gained.
Gold for February delivery shed $8, or 0.7%, to settle at $1,189.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the weakest since Jan. 10.
"Gold has been trading as one of the several moving parts in the ‘Trump-Trade’ since the election," MarketWatch quoted Tyler Richey, co-editor of The 7:00’s Report. "The broader trends have been a decline in bonds, rally in the dollar, and new highs in stocks; all of which are bearish influences for gold."
Gold futures ranged from a low of $1,183.90 to a high of $1,202.30. They dropped 1.1% on Wednesday, slipped 0.4% on Tuesday and gained 0.9% on Monday, when they finished at their highest level since Nov. 17.
Meanwhile, silver for March delivery declined 13 cents, or 0.8%, to settle at $16.85 an ounce. Silver futures traded between $16.68 and $17.05. In the previous two sessions, they registered losses of 1.2% and less than 0.1%. They climbed 0.9% on Monday.
In other precious metals Thursday:
April platinum ended flat at $981.70 an ounce, ranging from $969.90 to $991.
- Palladium for March delivery dropped $11.65, or 1.6%, to $724.45 an ounce, trading between $713.75 and $744.50. The precious metals is down 8.1% on the week.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Wednesday PM to Thursday PM:
- Gold fell $5.30, or 0.4%, to $1,189.70 an ounce.
- Silver lost 7 cents, or 0.4%, to $16.86 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 logged gains of 2,000 ounces in American Gold Eagles and 1,000 ounces in American Gold Buffalos.
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|
|$100 American Eagle 1 Oz Platinum Coin||0||–||20,000||–||20,000|
|$50 American Eagle 1 Oz Gold Coin||1,000||14,500||5,000||23,000||75,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||3,000||18,000|
|$10 American Eagle 1/4 Oz Gold Coin||2,000||4,000||2,000||2,000||36,000|
|$5 American Eagle 1/10 Oz Gold Coin||5,000||10,000||20,000||40,000||115,000|
|$50 American Buffalo 1 Oz Gold Coin||1,000||2,000||2,500||12,500||29,000|
|$1 American Eagle 1 Oz Silver Coin||0||825,000||325,000||240,000||4,897,500|
|2016 Shawnee 5 Oz Silver Coins*||–|
|2016 Cumberland Gap 5 Oz Silver Coin*||–|
|2016 Harpers Ferry 5 Oz Silver Coin||0||0||100||0|
|2016 Theodore Roosevelt 5 Oz Silver Coin*||–||800||–|
|2016 Fort Moultrie 5 Oz Silver Coin||0||0||0||0|