Precious metals futures registered declines Thursday ranging from 0.3% for palladium to 1.3% for silver. Silver’s loss was its first in four sessions and comes on the heels of hitting a more than 13-month high settlement.
Gold for August delivery shed $8.90, or 0.6%, to close at $1,414.70 an ounce on the Comex division of the New York Mercantile Exchange.
Gold futures ranged from a low of $1,411.10 to a high of $1,434.10. They gained 0.1% on Wednesday, slipped 0.4% on Tuesday, and inched up 0.01% on Monday. Last Thursday, they ended at $1,428.10 an ounce for their highest close since May 13, 2013.
Meanwhile, silver for September delivery fell 21.5 cents to settle at $16.411 an ounce. Silver futures traded between $16.34 and $16.69.
"The key element that has been fueling the recent rally in silver was the stretched levels of the gold-silver ratio which suggested to many traders that silver was cheap relative to gold," Reuters quoted Julius Baer analyst Carsten Menke, who added that profit-taking was now occurring.
They added 0.9% on Wednesday — for their best close since June 14, 2018, they rose 0.4% on Tuesday, and they gained 1.3% on Monday.
In other precious metals futures Thursday:
October platinum declined $7.10, or 0.8%, to $874 an ounce, ranging from $871.40 to $889.70.
- Palladium for September shed $4.60 to $1,533.90 an ounce, trading between $1,525.30 and $1,544.90.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold fell $10.85, or 0.8%, to $1,416.10 an ounce.
- Silver was unchanged at $16.535 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||June||July||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||500||500||4,500||1,000||79,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||0||0||2,000||21,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||0||2,000||28,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||5,000||5,000||15,000||160,000|
|$50 American Buffalo 1 Oz Gold Coin||0||500||0||3,000||500||48,000|
|$1 American Eagle 1 Oz Silver Coin||0||75,000||0||1,035,000||337,000||10,359,000|
|American Memorial Park 5 Oz Silver Coin||0||0||0||0||0||78,000|
|Lowell 5 Oz Silver Coin*||N/A||80,000|
|$100 American Eagle 1 Oz Platinum Coin*||N/A||40,000|