Precious metals futures registered mostly slight changes Thursday. Gold logged its first increase in four sessions, climbing from a 2-1/2-week low. Silver, meanwhile, closed lower for a third straight day to post a new 6-week low.
Gold for June delivery added $1.70, or 0.1%, to settle at $1,265.90 an ounce on the Comex division of the New York Mercantile Exchange, after closing Wednesday at its lowest price since April 10.
"Some short covering by the shorter-term futures traders was featured, as well as some perceived bargain-basement buying in both futures and the cash market," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note. "The generally upbeat trader and investor attitudes this week have been a significantly bearish element for the safe-haven metal."
Gold futures ranged from a low of $1,261.80 to a high of $1,271.10. In the previous three sessions, they logged declines totaling 1.9%.
Silver futures for July delivery shed 9.7 cents, or 0.6%, to end at $17.334 an ounce. The settlement is the weakest since March 16. Silver futures traded between $17.29 and $17.54. The most active contrast lost 1.3% on Wednesday, dropped 1.5% on Tuesday, and inched up less than a half-cent on Monday.
In other precious metals futures on Thursday:
July platinum edged up 30 cents to $948.80 an ounce, ranging from $942.50 to $954.50.
- Palladium for June delivery gained $7.85, or 1%, to $813 an ounce, trading between $800.20 and $815.80.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Wednesday PM to Thursday PM:
- Gold rose 95 cents, or less than 0.1%, to $1,262.80 an ounce.
- Silver declined 13 cents, or 0.7%, to $17.46 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
U.S. Mint bullion sales were unchanged. 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||Mar Sales||April Sales||2017 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||20,000|
|$50 American Eagle 1 Oz Gold Coin||0||0||500||16,000||3,000||126,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||1,000||0||25,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||4,000||2,000||46,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||10,000||35,000||20,000||210,000|
|$50 American Buffalo 1 Oz Gold Coin||0||500||500||8,500||3,000||58,500|
|$1 American Eagle 1 Oz Silver Coin||0||220,000||235,000||1,615,000||835,000||8,792,500|
|2017 Effigy Mounds 5 Oz Silver Coin||0||300||0||200||900||20,600|
|2017 Frederick Douglass 5 Oz Silver Coin||0||4,200||1,400||N/A||17,600||17,600|