Gold futures logged their first gain in five sessions Thursday, rising slightly from a four-week low on safe-haven support as U.S. stocks tumbled.
Gold for April delivery added $4.40, or 0.3%, to settle at $1,319 an ounce on the Comex division of the New York Mercantile Exchange.
"Another big sell off in the U.S. stock market prompted safe-haven demand in both gold and silver markets," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Bargain hunters also stepped into both markets after they had dropped to multi-week lows early on today."
Gold futures traded from a low of $1,309 to a high of $1,324.50. They dropped 1.1% on Wednesday — ending at their lowest price since Jan. 9, shed 0.5% on Tuesday, and dipped less than 0.1% on Monday.
Silver for March delivery rose 10.3 cents, or 0.6%, to settle at $16.341 an ounce. Silver futures ranged from $16.19 to $16.43. They sank 2.1% on Wednesday — finishing at their weakest price since Dec. 19, shed 0.6% on Tuesday, and lost 0.2% on Monday.
In rounding out precious metals dealings:
April platinum declined $3.30, or 0.3%, to $978.40 an ounce, trading between $972.60 and $986.40.
- Palladium for March delivery fell $22.35, or 2.3%, to $962.20 an ounce, ranging from $955.10 to $983.90.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold declined $9.20, or 0.7%, to $1,315.45 an ounce.
- Silver fell 34.5 cents, or 2.1%, to $16.345 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||January||February||2018 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||2,000||500||38,000||36,000||1,500||37,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||3,000||16,000||0||16,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||4,000||26,000||0||26,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||0||25,000||80,000||0||80,000|
|$50 American Buffalo 1 Oz Gold Coin||0||1,500||500||14,000||24,000||1,500||25,500|
|$1 American Eagle 1 Oz Silver Coin||0||140,000||225,000||742,000||3,235,000||225,000||3,460,000|