Gold and silver futures declined Thursday but they regained some of their after-hours losses from Wednesday that came about with the release of the Fed’s monetary policy statement. Elsewhere, palladium posted another record settlement, one week after logging its previous record.
Gold for December delivery declined $9.60, or 0.6%, to close at $1,506.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since last Friday, Sept. 13.
"Risk aversion in the world marketplace has subsided late this week, meaning less safe-haven demand for gold and silver," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The U.S. Federal Reserve is also being deemed as less dovish on monetary policy following Wednesday’s FOMC meeting."
Gold futures ranged from a low of $1,496.30 to a high of $1,512.10. They rose 0.2% on Wednesday for their best close since Sept. 5, they edged up 0.1% on Tuesday, and they advanced 0.8% on Monday.
Silver for December delivery fell 3.5 cents, or 0.2%, to settle at $17.884 an ounce. Silver futures traded between $17.65 and $18.02. They declined 1.2% on Wednesday, gained 0.6% on Tuesday, and surged 2.3% on Monday.
In other precious metals futures Thursday:
October platinum added $7.80, or 0.8%, to $942.40 an ounce, ranging from $923.70 to $943.90.
- Palladium for December delivery surged $30.40, or 1.9%, to a record settlement of $1,612.60 an ounce. The metal traded between $1,575.40 and $1,617.30.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold dipped $2.80, or 0.2%, to $1,500.70 an ounce.
- Silver declined 9.5 cents, or 0.5%, to $17.755 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 rose by 500 ounces in American Buffalo gold coins. 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||August||September||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||1,000||0||5,500||2,500||89,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||0||1,000||1,000||24,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||0||0||2,000||30,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||0||0||5,000||165,000|
|$50 American Buffalo 1 Oz Gold Coin||500||0||500||1,500||1,500||50,500|
|$1 American Eagle 1 Oz Silver Coin||0||675,000||25,000||1,007,000||711,000||12,980,000|
|War in the Pacific 5 Oz Silver Coin||0||2,500||0||12,500||2,500||72,000|
|American Memorial Park 5 Oz Silver Coin*||0||0||0||2,000||0||80,000|
|Lowell 5 Oz Silver Coin*||N/A||80,000|
|$100 American Eagle 1 Oz Platinum Coin*||N/A||40,000|