Precious metals futures posted losses Thursday that ranged from 0.3% for both silver and platinum to 0.7% for gold. The daily declines in gold and silver were there second in a row following two straight gains.
Gold for December delivery fell $10.60 to settle at $1,463.60 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Nov. 13.
"While the precious metal is trying to recover the strength that boosted it in the first part of this year, the decline seen in the last few weeks can still be seen as a correction rather than an inversion, as long as prices hold above $1,450," wrote Carlo Alberto De Casa, chief analyst at ActivTrades, in a daily research note reported by MarketWatch.
Gold futures ranged from a low of $1,462.40 to a high of $1,475.90. They edged 0.01% lower on Wednesday, and they climbed 0.2% on Tuesday and on Monday.
Silver for December delivery lost 5 cents to settle at $17.065 an ounce. Silver futures traded between $17.01 and $17.17. They dipped 0.02% on Wednesday, they gained 0.7% on Tuesday, and they rose 0.3% on Monday.
In other precious metals futures prices Thursday:
January platinum fell $2.50 to $917.50 an ounce, ranging from $912.20 to $929.70.
- Palladium for December delivery declined $9.90, or 0.6%, to $1,731.90 an ounce, trading between $1,723.70 and $1,739.10.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold declined $4.65, or 0.3%, to $1,467.05 an ounce.
- Silver fell 2.5 cents, or 0.2%, to $17.09 an ounce.
US Mint 2019 Bullion Sales
U.S. 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||October||November||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||5,000||3,000||8,000||8,000||106,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||3,000||0||1,000||5,000||30,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||4,000||2,000||36,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||20,000||0||190,000|
|$50 American Buffalo 1 Oz Gold Coin||0||2,500||2,500||3,000||5,000||60,000|
|$1 American Eagle 1 Oz Silver Coin||0||65,000||233,000||1,110,500||463,000||14,863,500|
|Frank Church River of No Return Wilderness 5 Oz Silver Coin||0||N/A||13,500||N/A||13,500||13,500|
|San Antonio Missions 5 Oz Silver Coin||0||0||0||17,500||0||55,200|
|War in the Pacific 5 Oz Silver Coin||0||0||0||500||0||72,500|
|American Memorial Park 5 Oz Silver Coin*||0||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|
I believe things will continue to remain in flux when it comes to precious metals while the Fed plays with interest rates and while the uncertainty of trade talks with china keeps people on edge. IMO metals are always a good opportunity. Slow and steady wins the race.