In futures action Thursday, gold, silver and platinum finished higher while palladium settled lower. Gold’s gain was its first in four sessions and after marking a three-week settlement low on Wednesday.
Gold for August delivery bounced $22.60, or 1.3%, to end at $1,727.40 an ounce on the Comex division of the New York Mercantile Exchange.
"Equity markets are still trading in the red and for gold market participants, that’s interpreted as a bout of risk-off and is leading to an increase in investment demand," Reuters quoted Daniel Ghali, commodity strategist at TD Securities.
Gold futures ranged from a low of $1,698.90 to a high of $1,729. They gave back 1.7% on Wednesday — posting their lowest settlement since May 11, they lost 0.9% on Tuesday, and they shed 0.08% on Monday. On Friday, at $1,751.70 an ounce they registered their highest finish since April 14.
Silver for July delivery rose 10.3 cents, or 0.6%, to close at $18.061 an ounce. Silver futures traded between $17.78 and $18.13. They declined 1.7% on Wednesday, they dropped 3% on Tuesday, and they rose 1.8% on Monday — logging their highest settlement since Feb. 24.
In other precious metals futures prices Thursday:
July platinum added $4.50, or 0.5%, to $865 an ounce, ranging from $845.10 to $871.60.
- Palladium for September delivery dropped $35.40, or 1.8%, to $1,922.80 an ounce, trading between $1,832.20 and $1,963.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold declined $5.30, or 0.3%, to $1,700.05 an ounce.
- Silver fell 11 cents, or 0.6%, to $17.75 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales were unchanged Thursday following two straight days of gains in American Eagle gold and silver coins.
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||April||May||This Week / June||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||2,000||105,000||5,500||2,000||287,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||0||6,000||0||39,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||0||12,000||0||52,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||0||0||175,000|
|$50 American Buffalo 1 Oz Gold Coin||0||1,000||28,500||2,500||0||118,500|
|$1 American Eagle 1 Oz Silver Coin||0||0||750,000||490,000||450,000||11,668,500|
|$1 American Eagle 1 Oz Platinum Coin||0||0||1,500||0||0||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.