Gold and silver prices ended lower for a second straight session Thursday after logging milestone highs on Tuesday. Palladium stepped back from its prior-day record. Platinum, meanwhile, rose modestly.
Gold for February delivery declined $5.90, or 0.4%, to settle at $1,554.30 an ounce on the Comex division of the New York Mercantile Exchange.
"Investors are seeing relatively less risk from the US–Iran situation, at least for now," wrote Carlo Alberto De Casa, chief analyst at ActivTrades, according to MarketWatch.
"This had a strong impact on gold," with the sharp decline reflecting "a reconsideration of the risk coming from the geopolitical situation," he wrote, in a daily research note.
Gold futures ranged from a low of $1,541 to a high of $1,562.40. They fell 0.9% on Wednesday for their first loss in eleven sessions, they climbed 0.4% on Tuesday — marking their highest settlement since April. 9, 2013, and they gained 1.1% on Monday.
Silver for March delivery dropped 23.1 cents, or 1.3%, to settle at $17.936 an ounce. Silver futures traded between $17.81 and $18.23. They declined 1.2% on Wednesday, they moved up 1.2% on Tuesday — logging their highest close since Sept. 24, and they edged ahead 0.2% on Monday.
In other precious metals futures prices on Thursday
April platinum added $8.20, or 0.9%, to $972 an ounce, ranging from $952.50 to $976.50.
- Palladium for March delivery dipped $1, or 0.05%, to $2,060.40 an ounce, trading between $2,016.30 and $2,114. They scored a record settlement on Wednesday.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold declined $21.20, or 1.4%, to $1,550.75 an ounce.
- Silver sank 51 cents, or 2.8%, to $17.91 an ounce.
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||November||December||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||0||8,000||2,000||108,000|
|$25 American Eagle 1/2 Oz Gold Coin*||0||0||5,000||0||30,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||0||38,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||0||195,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||5,000||1,500||61,500|
|$1 American Eagle 1 Oz Silver Coin||0||0||463,000||0||14,863,500|
|Frank Church River of No Return Wilderness 5 Oz Silver Coin||0||0||20,000||5,000||25,000|
|San Antonio Missions 5 Oz Silver Coin||0||0||0||0||55,200|
|War in the Pacific 5 Oz Silver Coin||0||0||0||0||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|