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:
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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 | ||||
