Precious metals futures rallied Thursday, logging gains ranging from 2.2% for both gold and platinum to 4.4% for palladium.
Gold for June delivery rose $37.30 to settle at $1,725.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since April 24.
"You had high unemployment (numbers) that came out. … That’s still telling people to maybe look for the safety trade," Reuters quoted Michael Matousek, head trader at U.S. Global Investors.
Gold futures ranged from a low of $1,683.90 to a high of $1,732.80. They declined 1.3% on Wednesday — registering their lowest close since April 21, they shed 0.2% on Tuesday, and they rose 0.7% on Monday.
Silver for July delivery surged 57.5 cents, or 3.8%, to settle at $15.59 an ounce. Silver futures traded between $14.92 and $15.70. They lost 0.6% on Wednesday, they advanced 2.1% on Tuesday, and they declined 1% on Monday, marking their lowest close since April 3.
In other precious metals futures prices Thursday:
July platinum added $16.60 to $782.10 an ounce, ranging from $762.40 to $785.
- Palladium for June delivery jumped $76.80 to $1,835.70 an ounce, trading between $1,761.50 and $1,843.10.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold rose $12.55, or 0.7%, to $1,704.05 an ounce.
- Silver fell 9.5 cents, or 0.6%, to $14.98 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales rose Thursday by 2,000 ounces in American Gold Eagles. 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||Last Week||This Week / May||January||February||March||April||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||2,000||12,500||2,000||38,000||3,500||133,000||105,000||281,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||5,000||23,000||2,000||8,000||0||38,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||10,000||18,000||2,000||20,000||0||50,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||60,000||20,000||95,000||0||175,000|
|$50 American Buffalo 1 Oz Gold Coin||0||12,500||0||21,000||1,000||65,500||28,500||116,000|
|$1 American Eagle 1 Oz Silver Coin||0||400,000||0||3,846,000||650,000||5,482,500||750,000||10,728,500|
|$1 American Eagle 1 Oz Platinum Coin||0||0||0||14,500||9,300||31,200||1,500||56,500|
In terms of 5-ounce silver bullion sales for 2020, the U.S. Mint is working on getting them automated and reported. Initial U.S. Mint-provided figures have the first two 2020-dated pieces at 45,000 produced and sold per issue. These amounts are being verified.