Precious metals futures registered gains Thursday ranging from 0.3% for platinum to 1.9% for palladium. The latter notched a new record settlement. Gold’s gain was its second in a row after three straight session losses. The yellow metal ended just above a two-week high.
Gold for December delivery rose $9, or 0.6%, to settle at $1,504.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Oct. 9.
For gold, "the upside move is being amplified to a degree by market technicals, as futures broke above a key resistance level just above $1,500 and squeezed to a multi-week high,” MarketWatch quoted Tyler Richey, co-editor at Sevens Report Research.
"We are likely to see some digestion in gold prices in the near term but as long as there is elevated demand for safe havens — keeping a lid on yields, gold should be able to drift back up towards $1,520," he said.
Gold futures ranged from a low of $1,490.40 to a high of $1,505.90. They gained 0.6% on Wednesday, they dipped 0.04% on Tuesday and they declined 0.4% on Monday.
Silver for December delivery advanced 22.4 cents, or 1.3%, to settle at $17.804 an ounce. Silver futures traded between $17.48 and $17.86. They rose 0.5% on Wednesday, they slipped 0.6% on Tuesday and they added 0.1% on Monday.
In other precious metals futures prices Thursday:
January platinum gained $2.70 to $925.10 an ounce, ranging from $921 to $936.80.
- Palladium for December delivery surged $33.30 to an all-time settlement high of $1,747.90 an ounce. Palladium traded between $1,713.20 and $1,757.90.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold added $2.10, or 0.1%, to $1,496.55 an ounce.
- Silver shed a half penny, or 0.03%, to $17.53 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 / This Week||Last Week||September||October||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||4,500||3,500||8,000||98,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||1,000||1,000||25,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||4,000||34,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||10,000||20,000||190,000|
|$50 American Buffalo 1 Oz Gold Coin||0||3,000||2,500||3,000||55,000|
|$1 American Eagle 1 Oz Silver Coin||0||408,500||1,021,000||943,500||14,233,500|
|San Antonio Missions 5 Oz Silver Coin||0||500||37,700||17,500||55,200|
|War in the Pacific 5 Oz Silver Coin||0||0||2,500||500||72,500|
|American Memorial Park 5 Oz Silver Coin*||0||0||0||0||80,000|
|Lowell 5 Oz Silver Coin*||N/A||80,000|
|$100 American Eagle 1 Oz Platinum Coin*||N/A||40,000|