Precious metals futures ended mostly higher Thursday, one day after U.S. markets closed for Fourth of July celebrations. Gold futures rose for a second straight session, ending at a more than one-week high.
Gold for August delivery added $5.30, or 0.4%, to settle at $1,258.80 an ounce on the Comex division of the New York Mercantile Exchange. The close is the strongest since June 26.
"Gold and silver prices are modestly to slightly higher in early-afternoon U.S. trading Thursday, on mild corrective rebounds after both metals hit multi-month lows earlier this week," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
"This afternoon’s release of the minutes from the latest meeting of the Federal Open Market Committee (FOMC) did not have a significant impact on precious metals prices," Wyckoff noted.
Gold futures ranged from a low of $1,252.20 to a high of $1,262.40. They gained nearly 1% on Tuesday but lost 1% on Monday — ending at their lowest price since Dec. 12.
Meanwhile, silver for September delivery moved up 5.4 cents, or 0.3%, to settle at $16.097 an ounce. Silver futures traded between $15.97 and $16.20. They advanced 1.3% on Tuesday and tumbled 2.2% on Monday.
In other precious metals futures on Thursday:
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October platinum declined $4.90, or 0.6%, to $841.40 an ounce, ranging from $836.70 to $850.60.
- Palladium for September delivery rose $4.70, or 0.5%, to $942.70 an ounce, trading between $935.70 and $947.80.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold inched down 15 cents to 1,255.50 an ounce.
- Silver declined 9.5 cents, or 0.6%, to $15.95 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 logged their fist gains of the week and month. Advances included a combined 5,800 ounces American Gold Eagles; 5,500 ounces in American Gold Buffalos; and 75,000 ounces in American Silver Eagles.
were unchanged. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.
| US Mint Bullion Sales (# of coins) | |||||
|---|---|---|---|---|---|
| Thursday / Week / July | Last Week | May | June | 2018 Sales | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 10,000 | 0 | 30,000 |
| $50 American Eagle 1 Oz Gold Coin | 6,500 | 5,500 | 18,500 | 21,500 | 94,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 1,000 | 0 | 0 | 1,000 | 18,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 18,000 | 4,000 | 48,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 10,000 | 15,000 | 125,000 |
| $50 American Buffalo 1 Oz Gold Coin | 5,500 | 0 | 16,500 | 6,500 | 59,000 |
| $1 American Eagle 1 Oz Silver Coin | 75,000 | 95,000 | 380,000 | 435,000 | 6,897,500 |
| Pictured Rocks 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 30,000 |
| Apostle Islands 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 30,000 |
| Voyageurs 5 Oz Silver Coin | 0 | 1,100 | 0 | 30,000 | 30,000 |
