Gold and silver futures posted losses Thursday while platinum and palladium scored gains. Gold finished at a nearly two-week low.
Gold for December delivery declined $7.20, or 0.5%, to settle at $1,508.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Aug. 9.
"Some not-so-dovish comments from U.S. Federal Reserve officials heading into the annual Jackson Hole, Wyoming Federal Reserve symposium that began today had the precious metals traders in a selling mood," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
Gold futures ranged from a low of $1,502.10 to a high of $1,514.60. They ended unchanged on Wednesday, rose 0.3% on Tuesday, and slipped 0.8% on Monday. Last Thursday, they finished at $1,531.20 an ounce for their strongest settlement since April 11, 2013.
Silver for September delivery lost 11.1 cents, or 0.7%, to close at $17.04 an ounce. Silver futures traded between $16.91 and $17.13. They gained less than a half cent on Wednesday, rose 1.2% on Tuesday, and declined 0.3% on Monday. As recently as a week ago Wednesday, Aug. 14, they closed at $17.28 an ounce for their highest settlement since ending at $17.441 an ounce on Jan. 26, 2018.
In other futures Thursday:
October platinum added $3.80, or 0.4%, to $861.90 an ounce, ranging from $848.10 to $863.40.
- Palladium for September advanced $19.70, or 1.3%, to $1,485.20 an ounce, trading between $1,452.60 and $1,486.70.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold declined $1.20, or 0.08%, to $1,502.05 an ounce.
- Silver fell 15 cents, or 0.9%, to $16.96 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||2,500||2,500||5,000||86,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||0||3,000||1,000||23,000|
|$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||0||0||500||1,000||49,000|
|$1 American Eagle 1 Oz Silver Coin||0||222,000||647,000||1,240,000||869,000||12,131,000|
|War in the Pacific 5 Oz Silver Coin||0||0||4,500||57,000||12,500||69,500|
|American Memorial Park 5 Oz Silver Coin*||0||0||2,000||0||2,000||80,000|
|Lowell 5 Oz Silver Coin*||N/A||80,000|
|$100 American Eagle 1 Oz Platinum Coin*||N/A||40,000|