Gold Jumps 1.5%, Silver Climbs for Fourth Session

Bullion Gold Bars, Three
Gold futures rose 1.5% on Thursday, March 5

Gold, silver and palladium futures gained Thursday. Silver’s increase was its fourth in a row while palladium snapped a four-session losing streak. Gold rebounded from its prior session modest loss.

Gold for April delivery advanced $25, or 1.5%, to settle at $1,668 an ounce on the Comex division of the New York Mercantile Exchange.

"Recent history shows that some days traders and investors are less concerned about the coronavirus outbreak, and then the next day they are more concerned. Look for continued vacillating markets as the Covid-19 situation plays out," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note. "It’s now looking more likely that the event will not be a short-term situation, but instead one that will play out over several months, or longer."

Gold futures ranged from a low of $1,635.60 to a high of $1,669.70. They dipped 0.09% on Wednesday, they jumped 3.1% on Tuesday, and they gained 1.8% on Monday. A week ago Monday, Feb. 24, they closed at $1,676.60 an ounce for their highest settlement since Feb. 6, 2013.

Silver for March delivery added 14.7 cents, or 0.9%, to $17.393 an ounce. Silver futures traded between $17.15 and $17.43. They rose 0.3% on Wednesday, they surged 2.7% on Tuesday, and they climbed 1.7% on Monday.

In other precious metals prices Thursday:

  • April platinum declined $9.50, or 1.1%, to $865.70 an ounce, ranging from $856.60 to $876.10.

  • Palladium for June delivery surged $84.40, or 3.5%, to $2,469.40 an ounce, trading between $2,370 and $2,471.80. Last Thursday, palladium scored a record settlement at $2,711.70 an ounce.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:

  • Gold tacked on $17.75, or 1.1%, to $1,659.60 an ounce.
  • Silver fell 5 cents, or 0.3%, to $17.20 an ounce.

US Mint Bullion Sales in 2020

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.

US Mint Bullion Sales (# of coins)
Thursday December January February This Week / March 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 2,000 38,000 3,500 1,500 43,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 23,000 2,000 0 25,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 18,000 2,000 0 20,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 60,000 20,000 10,000 90,000
$50 American Buffalo 1 Oz Gold Coin 0 1,500 21,000 1,000 3,000 25,000
$1 American Eagle 1 Oz Silver Coin 0 0 3,846,000 650,000 750,000 5,246,000
$1 American Eagle 1 Oz Platinum Coin 0 0 14,500 9,300 1,500 25,300


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So, is au headed to a 100 to 1 of ag? Interesting you can buy the palladium coin and two of the three platinum coins on the market for less from what the mint charges. Was surprise the mint lowered the 2020 platinum to 1445 since their “grid” might have indicated spot had to drop below 850. Today platinum up about $36 so mint may raise prices back up again. Wonder what sales are.


Gold, Platinum and Palladium grid pricing can only occur on Wednesday afternoon.