Precious metals declined Thursday with losses ranging from 0.6% for palladium to 1.8% for silver. Gold ended at a one-week low after reaching an almost five-week high on Monday.
Gold for June delivery fell $11.60, or 0.9%, to settle at $1,286.20 an ounce on the Comex division of the New York Mercantile Exchange. The close is the weakest since last Thursday, May 9.
"A strong rebound in the U.S. stock market this week has boosted trader and investor risk appetite, which is bearish for the safe-haven metals," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a note. "And a firmer U.S. dollar index today is also a negative for the precious metals markets," Wyckoff added.
Gold futures ranged from a low of $1,284.20 to a high of $1,299.30. They rose 0.1% on Wednesday, retreated 0.4% on Tuesday, and gained 1.1% on Monday — ending at their highest price since April 10.
Silver for July delivery dropped 27.3 cents to settle at $14.539 an ounce. Silver futures traded between $14.51 and $14.83. They were unchanged on Wednesday, rose 0.2% on Tuesday, and dipped less than 0.1% on Monday.
In other precious metals futures Thursday:
July platinum declined $14.10, or 1.7%, to $833.60 an ounce, ranging from $833 to $852.20.
- Palladium for June delivery lost $8.20 to $1,324.70 an ounce, trading between $1,320 and $1,339.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold declined $7.40, or 0.6%%, to $1,291.70 an ounce.
- Silver fell 2 cent, or 0.1%, to $14.795 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint 2019 Bullion Sales
United States Mint bullion sales were unchanged. Below is a sales breakdown of U.S. Mint 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||Last Week||This Week||March||April||May||2019 Sales|
|$100 American Eagle 1 Oz Platinum Coin*||N/A||4,000||6,500||N/A||40,000|
|$50 American Eagle 1 Oz Gold Coin||0||0||1,000||8,500||6,500||1,000||71,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||1,000||1,000||0||19,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||4,000||2,000||0||26,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||15,000||25,000||0||135,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||1,000||5,500||6,500||1,000||42,500|
|$1 American Eagle 1 Oz Silver Coin||0||92,000||0||850,000||1,196,000||160,000||8,281,000|
|Lowell 5 Oz Silver Coin*||N/A||80,000||N/A||80,000|