Gold futures declined for a third straight session Thursday, after scoring a 1-month high on Monday, and are now 50 cents lower on the week to date.
Gold for June delivery settled down $8.80, or 0.7% to $1,248 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the weakest since a week ago, March 23.
"The precious metal saw more profit-taking pressure from recent gains, as well as a downside technical correction," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A solid rebound in the U.S. dollar index from its early-week low also worked against the precious metals markets today."
Gold futures ranged from a low of $1,246.60 to a high of $1,256.50. They lost 0.2% on Wednesday, shed a dime on Tuesday, and climbed 0.6% on Monday when they ended at their best price since Feb. 27.
Elsewhere, silver for May delivery lost 4.6 cents, or 0.3%, to close at $18.206 an ounce. Silver futures traded between $18.07 and $18.32. They were flat on Wednesday, gained 0.8% on Tuesday, and jumped 2% on Monday. The closing price in the prior two sessions was the highest since March 1.
In other precious metals dealings:
July platinum dipped 60 cents, or less than 0.1%, to $955.70 an ounce, ranging from $953.20 to $963.50.
- Palladium for June delivery rose $7.30, or 0.9%, to $797.50 an ounce, trading between $786.70 and $804.95.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Wednesday PM to Thursday PM:
- Gold declined $2.30, or 0.2%, to $1,248.80 an ounce.
- Silver shed 3 cents, or 0.2% to $18.10 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 product advances for the day included:
- 1,000 ounces in American Gold Eagles;
- 1,500 ounces in American Gold Buffalos; and
- 295,000 ounces in American Silver Eagles.
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||Feb Sales||Mar Sales||2017 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||20,000|
|$50 American Eagle 1 Oz Gold Coin||500||8,500||1,500||21,000||16,000||123,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||5,000||1,000||25,000|
|$10 American Eagle 1/4 Oz Gold Coin||2,000||0||2,000||4,000||4,000||44,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||0||30,000||35,000||190,000|
|$50 American Buffalo 1 Oz Gold Coin||1,500||4,000||1,500||15,000||8,500||55,500|
|$1 American Eagle 1 Oz Silver Coin||295,000||795,000||320,000||1,215,000||1,615,000||7,957,500|
|2017 Effigy Mounds 5 Oz Silver Coin||0||0||200||19,500||200||19,700|
|2016 Shawnee 5 Oz Silver Coins*||–|
|2016 Cumberland Gap 5 Oz Silver Coin*||–|
|2016 Harpers Ferry 5 Oz Silver Coin||0||0||0||0||0||0|
|2016 Theodore Roosevelt 5 Oz Silver Coin*||–|
|2016 Fort Moultrie 5 Oz Silver Coin||0||0||0||0||0||0|