Gold futures climbed for a third day in a row Thursday, and closed at a new, nearly 1-1/2-year high.
Gold for February delivery added $6.60, or 0.5%, to settle at $1,362.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Aug. 4, 2016, when prices closed at $1,367.40 an ounce.
"Price actions in many markets to start 2018 strongly suggest the raw commodity sector is now starting a cyclical upturn," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily report. "It appears much better times are ahead for raw commodity market bulls, including the precious metals."
Gold futures traded from a low of $1,352.60 to a high of $1,365.40. They advanced 1.5% on Wednesday, climbed 0.4% on Tuesday, and dipped 0.1% on Monday.
Elsewhere, silver for March delivery tacked on 12.6 cents, or 0.7%, to settle at $17.615 an ounce. The settlement is the strongest since Sept. 15, 2017, when the precious metal finished at $17.701 an ounce. Silver futures ranged from $17.45 to $17.71. They surged 3.4% in the previous session, fell 0.5% on Tuesday, and lost 0.3% on Monday.
In rounding out precious metals futures prices:
April platinum advanced $16.30, or 1.6%, to $1,032.10 an ounce, trading between $1,011.30 and $1,033.30.
- Palladium for March delivery lost $8.95, or 0.8%, to $1,097.40 an ounce, ranging from $1,088.50 to $1,109.35.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold added $1.25, or less than 0.1%, to $1,354.95 an ounce.
- Silver rose 33 cents, or 1.9%, to $17.52 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Sales in 2018
United States 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.
|US Mint Bullion Sales (# of coins)|
|Thursday||Last Week||This Week||December||2017 Sales||2018 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||3,500||4,500||38,000||228,500||35,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||2,000||2,000||3,000||37,000||16,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||4,000||64,000||26,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||10,000||5,000||25,000||395,000||75,000|
|$50 American Buffalo 1 Oz Gold Coin||0||2,500||2,500||14,000||99,500||23,500|
|$1 American Eagle 1 Oz Silver Coin||0||250,000||325,000||742,000||18,065,500||3,095,000|