Precious metals futures moved ahead together for a third straight day as the U.S. dollar weakened. Several reached noteworthy highs with settlement peaks of about 17 years for palladium; 10 weeks for gold; and 4 weeks for silver.
Gold for February delivery tacked on $5.80, or 0.5%, to settle at $1,297.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Oct. 16 when prices closed at $1,303 an ounce.
"The technicals favor the upside. The gravitational force is trying to break through the (key) psychological level of $1,300," Reuters quoted Eli Tesfaye, senior market strategist for brokerage RJO Futures in Chicago.
Gold futures ranged from a low of $1,290.50 to a high of $1,297.30. They gained 0.3% on Wednesday and rose 0.7% in their start to the holiday-shortened trading week on Tuesday.
Elsewhere, silver for March delivery advanced 16.7 cents, or 1%, to finish at $16.923 an ounce. The settlement was the highest since Nov. 27 when prices ended at $17.02 an ounce. Silver futures traded between $16.71 and $16.93. They gained 0.9% on Wednesday and moved up 1% on Tuesday.
In other precious metals dealings Thursday:
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April platinum rose $3.50, or 0.4%, to $931.50 an ounce, ranging from $925.30 to $932.90.
- Palladium for March delivery settled up $7.10, or 0.7%, to $1,063.45 an ounce, trading between $1,047.15 and $1,064.50. The close is the strongest since February 2001.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold added $11.60, or 0.9%, to $1,291 an ounce.
- Silver added 24 cents, or 1.5%, to $16.74 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
United States Mint bullion sales climbed by 2,000 ounces in American Gold 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 / This Week | Last Week | November | December | YTD | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 20,000 |
| $25 American Eagle 1 Oz Palladium Coin* | 0 | 0 | 0 | 0 | 15,000 |
| $50 American Eagle 1 Oz Gold Coin | 2,000 | 8,000 | 9,500 | 38,000 | 228,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 2,000 | 3,000 | 37,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 2,000 | 4,000 | 64,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 10,000 | 25,000 | 395,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 2,500 | 2,000 | 14,000 | 99,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 385,000 | 742,000 | 18,065,500 |
| 2017 Effigy Mounds 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 35,000 |
| 2017 Frederick Douglass 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 20,000 |
| 2017 Ozark Riverways 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 20,000 |
| 2017 Ellis Island 5 Oz Silver Coin* | 0 | 0 | 0 | 0 | 40,000 |
| 2017 George Rogers Clark 5 Oz Silver Coin | 0 | 0 | 32,400 | 0 | 32,400 |
