Gold and silver futures finished lower for the first time in five sessions, both falling Thursday from their prior-day milestone high settlements — 6.3-years for gold and nearly 14 months for silver.
Gold for December delivery declined $10.10, or 0.7%, to settle at $1,509.50 an ounce on the Comex division of the New York Mercantile Exchange.
"We got a little bit of a relief rally going on in the equities market here … so, gold futures are pulling back a little bit after an incredible run up," Reuters quoted Phillip Streible, senior commodities strategist at RJO Futures, who added the bull run in gold is not over and the market is seeing a small correction.
Gold futures ranged from a low of $1,501.60 to a high of $1,518.60. They jumped 2.4% on Wednesday — ending at their highest price since April 11, 2013, they rose 0.5% on Tuesday, and they gained 1.3% on Monday.
Silver for September delivery fell 26 cents, or 1.5%, to end at $16.936 an ounce. Silver futures traded between $16.81 and $17.223. They soared 4.6% on Wednesday — closing at their strongest level since June 14, 2018, they added 0.3% on Tuesday, and increased 0.8% on Monday.
In other precious metals futures prices Thursday:
October platinum dipped $3.50, or 0.4%, to $867.50 an ounce, ranging from $854.70 to $873.20.
- Palladium for September settled up $3.20, or 0.2%, to $1,413.50 an ounce, trading between $1,405.70 and $1,429.60.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold declined $10.30, or 0.7%, to $1,495.75 an ounce.
- Silver added 20 cents, or 1.2%, to $17.02 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||July||August||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||1,500||1,000||2,500||1,000||82,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||0||3,000||0||22,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||2,000||0||28,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||15,000||0||160,000|
|$50 American Buffalo 1 Oz Gold Coin||0||500||500||500||1,000||49,000|
|$1 American Eagle 1 Oz Silver Coin||0||756,000||0||1,240,000||0||11,262,000|
|War in the Pacific 5 Oz Silver Coin||0||65,000||0||57,000||8,000||65,000|
|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|