Gold futures advanced for the sixth time in seven sessions Thursday, though barely. The yellow metal saw modest support over geopolitical concerns and from a weaker U.S. dollar.
Gold for June delivery edged up 40 cents to settle at $1,283.80 an ounce on the Comex division of the New York Mercantile Exchange.
"While the metal is well positioned for a test of $1,300 with geopolitical concerns underpinning its safe-haven status, the failed tests of $1,290 are beginning to weigh upon investor confidence," Reuters quoted MKS. "Support toward $1,275 should keep the price action buoyant over the short term, especially leading into this weekend’s French election."
Gold futures ranged from a low of $1,278 to a high of $1,285.20. They lost 0.8% on Wednesday, rose 0.2% on Tuesday — ending at their best level since Nov. 4, and advanced 0.3% on Monday.
Ending lower for a third day in a row, silver for May delivery lost 14.4 cents, or 0.8%, to $18.018 an ounce. Silver futures traded between $17.95 and $18.22. They slipped 0.6% in the previous session, fell 1.3% on Tuesday, and climbed less than a half cent on Monday to settle at their highest price since Nov. 10.
In other precious metals dealings Thursday:
July platinum gained $10.90, or 1.1%, to $981.20 an ounce, ranging from $967.90 to $983.70.
- Palladium jumped $27.30, or 3.5%, to $802.90 an ounce, trading between $774 and $803.60.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Wednesday PM to Thursday PM:
- Gold rose $3.05, or 0.2%, to $1,282.10 an ounce.
- Silver dipped 3 cents, or 0.2%, to $18.19 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 advanced Thursday and for the first time this week, registering gains of 1,000 ounces in gold coins and 242,500 ounces in silver coins.
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 / This Week||Last Week||Mar Sales||April Sales||2017 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||20,000|
|$50 American Eagle 1 Oz Gold Coin||0||1,000||16,000||2,500||126,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||1,000||0||25,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||4,000||2,000||46,000|
|$5 American Eagle 1/10 Oz Gold Coin||5,000||0||35,000||10,000||200,000|
|$50 American Buffalo 1 Oz Gold Coin||500||1,000||8,500||2,500||58,000|
|$1 American Eagle 1 Oz Silver Coin||220,000||125,000||1,615,000||600,000||8,557,500|
|2017 Effigy Mounds 5 Oz Silver Coin||300||0||200||900||20,600|
|2017 Frederick Douglass 5 Oz Silver Coin||4,200||2,300||N/A||16,200||16,200|