Gold and silver futures rallied Thursday, each posting gains of 3.6%. Gold settled at its best price in more than five years while silver closed at an almost three-month high.
Gold for August delivery rallied $48.10 to finish at $1,396.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Sept. 3, 2013 when gold ended at $1,412 an ounce.
"Major central banks that are leaning easy on their monetary policies are boosting the metals and the raw commodity sector, in general," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Gold is also seeing increased safe-haven buying interest as tensions in the Persian Gulf are on the rise."
Gold futures ranged from a low of $1,361.30 to a high of $1,397.70. They edged 0.1% lower on Wednesday, gained 0.6% on Tuesday, and dipped 0.1% on Monday.
Silver for July delivery surged 53.4 cents to close at $15.492 an ounce. The close was the highest since March 25 when the precious metal finished at $15.567 an ounce. Silver futures traded between $15.12 and $15.52. They lost 0.2% on Wednesday, rose 1.1% on Tuesday, and climbed 0.2% on Monday.
In other precious metals futures prices on Thursday:
July platinum dipped 20 cents, or less than 0.1%, to $805.60 an ounce, ranging from $805.10 to $823.90.
- Palladium for September delivery declined $12, or 0.8%, to $1,480.60 an ounce, trading between $1,461.60 and $1,525.10.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold gained $35.45, or 2.6%, to $1,379.50 an ounce.
- Silver added 38.5 cents, or 2.6%, to $15.33 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 / This Week||Last Week||April||May||June||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||3,000||6,500||3,500||3,500||77,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||1,000||0||0||19,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||0||0||26,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||25,000||5,000||5,000||145,000|
|$50 American Buffalo 1 Oz Gold Coin||0||2,000||6,500||3,000||3,000||47,500|
|$1 American Eagle 1 Oz Silver Coin||0||326,500||1,196,000||866,000||550,000||9,537,000|
|American Memorial Park 5 Oz Silver Coin||0||0||N/A||78,000||0||78,000|
|Lowell 5 Oz Silver Coin*||N/A||80,000|
|$100 American Eagle 1 Oz Platinum Coin*||N/A||6,500||N/A||0||40,000|