Most precious metals futures closed lower in their start to the new trading month on Thursday, with gold sliding from a five-week high.
Gold for August delivery shed $5.30, or 0.4%, to settle at $1,270.10 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold prices ended the U.S. day session lower Thursday, on profit-taking from recent gains that saw prices hit a four-week high Wednesday," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The U.S. ADP jobs report that was a big miss to the upside today was also bearish for the precious metals markets. The U.S. dollar index was also higher Thursday, and that was a daily negative for the metals."
Gold futures ranged from a low of $1,263.70 to a high of $1,272.80. In the previous session, they advanced 0.8%, marking their highest close since April 24 and ending the month of May with a 0.6% increase.
Elsewhere, silver for July delivery lost 12.5 cents, or 0.7%, to finish at $17.281 an ounce. Silver futures traded between $16.99 and $17.37. On Wednesday, they edged 0.1% lower to trim their June gain to 0.8%. On Tuesday, they settled at their best level since April 25.
In other precious metals futures Thursday:
July platinum fell $21.30, or 2.2%, to $929 an ounce, ranging from $925.50 to $951.30.
- Palladium for June delivery added $7.15, or 0.9%, to $823.10 an ounce, trading between $809.05 and $825.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Wednesday PM to Thursday PM:
- Gold dipped $1.35, or 0.1%, to $1,264.85 an ounce.
- Silver declined 18 cents, or 1%, to $17.13 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 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 / June||Last Week||This Week||May||YTD|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||20,000|
|$50 American Eagle 1 Oz Gold Coin||0||3,500||500||10,000||137,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||0||2,000||27,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||2,000||48,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||10,000||0||30,000||240,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||500||5,000||64,000|
|$1 American Eagle 1 Oz Silver Coin||0||595,000||300,000||2,455,000||11,247,500|
|2017 Effigy Mounds 5 Oz Silver Coin||0||4,600||100||5,600||26,200|
|2017 Frederick Douglass 5 Oz Silver Coin||0||0||0||2,400||20,000|