Precious metals futures advanced Thursday. Gold and silver padded gains that started Wednesday afternoon after the latest Fed minutes signaled expectations of a rate increase in June.
Gold for June delivery added $3.30, or 0.3%, to settle at $1,256.40 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold appears to be caught in a range in which the physical market — demand from India and China — is providing strong support around $1,200/oz, but safe-haven flows have been insufficient to breach the $1,300/oz threshold," Reuters quoted Standard Chartered Precious Metals Analyst Suki Cooper.
Gold futures ranged from a low of $1,253.50 to a high of $1,259.40. They dipped 0.2% on Wednesday, slipped 0.5% on Tuesday and climbed 0.6% on Monday, closing at their highest price since April 28.
Elsewhere, silver for July delivery gained 7.6 cents, or 0.4%, to settle at $17.193 an ounce. The settlement is the highest since April 28. Silver futures traded between $17.14 and $17.26. They shed 0.1% on Wednesday, declined 0.3% on Tuesday and gained 2.4% on Monday.
In other precious metals futures:
July platinum rose $5.60, or 0.6%, to $952.90 an ounce, ranging from $947.60 to $958.20.
- Palladium for June delivery tacked on $7.35, or 1%, to $769 an ounce, trading between $760 and $769.80.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Wednesday PM to Thursday PM:
- Gold added $4.40, or 0.4%, to $1,256.95 an ounce.
- Silver added 12 cents, or 0.7%, to $17.15 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Sales in 2017
U.S. Mint bullion products registered gains of 1,000 ounces in gold coins and 160,000 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||Last Week||This Week||April Sales||May 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||3,000||3,500||3,500||9,500||136,500|
|$25 American Eagle 1/2 Oz Gold Coin||1,000||0||1,000||0||2,000||27,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||0||2,000||2,000||48,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||10,000||20,000||30,000||240,000|
|$50 American Buffalo 1 Oz Gold Coin||0||2,000||0||3,500||4,500||63,500|
|$1 American Eagle 1 Oz Silver Coin||150,000||505,000||595,000||835,000||2,155,000||10,947,500|
|2017 Effigy Mounds 5 Oz Silver Coin||2,000||300||4,600||900||5,500||26,100|
|2017 Frederick Douglass 5 Oz Silver Coin||0||0||0||17,600||2,400||20,000|