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:
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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.
