Precious metals futures divided Thursday with gold and silver gaining and platinum and palladium declining.
Gold for August delivery rose $19.10, or 1.1%, to settle at $1,739.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since June 1.
"Safe-haven demand is featured late this week amid a global marketplace that has become anxious again — evidenced by a daily meltdown in the U.S. stock market Thursday," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note. "The Federal Reserve on Wednesday afternoon doused a stock market rally with some dour forecasts for the U.S. economy. There are also renewed worries about a Covid-19 infection resurgence."
Gold futures ranged from a low of $1,727.50 to a high of $1,754.90. They dipped 0.07% on Wednesday, they rose 1% on Tuesday, and they tacked on 1.3% on Monday. Last Friday, they ended at their weakest point since April 3.
Silver for July delivery added 9.3 cents, or 0.5%, to settle at $17.889 an ounce. Silver futures traded between $17.75 and $18.39. The settlement was the highest since Monday. They edged up 0.01% on Wednesday, they shed 0.6% on Tuesday, and they gained 2.4% on Monday. Last Friday, they ended at their lowest price since May 21.
In other precious metals futures prices on Thursday:
July platinum declined $22, or 2.6%, to $824 an ounce, ranging from $814.60 to $863.70.
- Palladium for September delivery fell $20.70, or 1.1%, to $1,910.10 an ounce, trading between $1,904.10 and $1,968.30.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold added $16.20, or 0.9%, to $1,738.25 an ounce.
- Silver was unchanged at $17.63 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales increased Thursday by 7,500 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||April||May||June||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||7,500||2,500||23,500||105,000||5,500||26,000||311,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||1,000||0||6,000||1,000||40,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||0||12,000||0||52,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||0||0||0||175,000|
|$50 American Buffalo 1 Oz Gold Coin||0||500||3,500||28,500||2,500||4,000||122,500|
|$1 American Eagle 1 Oz Silver Coin||0||450,000||0||750,000||490,000||450,000||11,668,500|
|$1 American Eagle 1 Oz Platinum Coin||0||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.