Gold futures rallied Thursday, posting their third straight session win and their strongest settlement in more than two months.
Gold for December delivery jumped $34.20, or 2.9%, to settle at $1,227.60 an ounce on the Comex division of the New York Mercantile Exchange. The close was the highest since also ending at $1,227.60 an ounce on Aug. 1.
"While it took a massive washout in equities and a moderate amount of economic anxiety, the safe haven lift in gold is justified given that the Dow Jones Industrial Average into the low this morning has posted a 24 hour decline of 1,300 points," analysts at Zaner Precious Metals wrote in a daily note Thursday according to MarketWatch.
Gold futures ranged from a low of $1,194.70 to a high of $1,230. They rose 0.2% on Wednesday and on Tuesday, and fell 1.4% on Monday to register their lowest close since Sept. 27.
"A very tame U.S. inflation report also boosted the metals markets," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The U.S. consumer price index report for September came in at up a scant 0.1% from August, while expectations were for a 0.2% rise."
Silver for December tacked on 28 cents, or 2%, to end at $14.606 an ounce. The finish was the best since Oct. 3. Silver futures traded between $14.27 and $14.65. They fell 0.5% on Wednesday, climbed 0.5% on Tuesday, and declined 2.2% on Monday.
In other precious metals futures prices Thursday:
January platinum added $19.30, or 2.3%, to $846.60 an ounce, ranging from $818.30 to $848.
- Palladium for December delivery rose $8, or 0.8%, to $1,075.20 an ounce, trading between $1,059.30 and $1,089.50.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold gained $16.95, or 1.4%, to 1,205.55 an ounce.
- Silver added 2.5 cents, or 0.2%, to $14.40 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 grew by a combined 4,000 ounces in American Eagle and Buffalo gold coins.
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||Last Week||Week||September||October||2018 Sales|
|$100 American Eagle 1 Oz Platinum Coin*||0||0||0||0||0||30,000|
|$50 American Eagle 1 Oz Gold Coin||3,000||4,500||6,000||14,500||10,500||161,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||0||2,000||1,000||25,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||4,000||0||58,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||10,000||0||40,000||10,000||210,000|
|$50 American Buffalo 1 Oz Gold Coin||1,000||1,500||1,000||11,000||2,500||110,500|
|$1 American Eagle 1 Oz Silver Coin||0||670,000||260,000||2,897,500||930,000||13,065,000|
|Pictured Rocks 5 Oz Silver Coin*||0||0||0||0||0||30,000|
|Apostle Islands 5 Oz Silver Coin*||0||0||0||0||0||30,000|
|Voyageurs 5 Oz Silver Coin*||0||0||0||0||0||30,000|
|Cumberland Island 5 Oz Silver Coin||0||0||0||52,500||0||52,500|