Precious metals declined Thursday, posting losses ranging from 0.5% for gold to 5.6% for palladium. Gold’s decline was its first in ten sessions and follows a streak of four straight record settlements.
Gold for December delivery — the new, most active contract — shed $9.90 to settle at $1,966.60 an ounce on the Comex division of the New York Mercantile Exchange.
"These are normal corrective price pullbacks in still-strong uptrends on the charts. Once again, look for bulls to soon step in to buy the dips and do some bargain hunting," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
Gold futures ranged from a low of $1,957.20 to a high of $1,987.30.
Silver for September delivery sank 95.9 cents, or 3.9%, to close at $23.362 an ounce. Silver futures traded between $23 and $24.58. They ended at $24.501 an ounce on Monday, registering their best settlement since Aug. 27, 2013.
In other precious metals prices on Thursday:
October platinum fell $45.90, or 4.8%, to $912.60 an ounce, ranging from $894.30 to $965.
- Palladium for September delivery tumbled $126.30 to $2,134.90 an ounce, trading between $2,079 and $2,243.60.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold added $6.75, or 0.4%, to $1,957.65 an ounce.
- Silver fell $1.175, or 4.8%, to $23.16 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales were unchanged Thursday. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Thursday||Last Week||This Week||May||June||July||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||44,500||14,000||5,500||42,500||84,500||412,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||4,000||0||6,000||2,000||4,000||45,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||8,000||0||12,000||2,000||10,000||64,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||25,000||10,000||0||0||35,000||210,000|
|$50 American Buffalo 1 Oz Gold Coin||0||9,500||7,500||2,500||7,500||22,000||148,000|
|$1 American Eagle 1 Oz Silver Coin||0||623,500||448,500||490,000||1,378,000||1,072,000||13,668,500|
|America Samoa 5 oz Silver Coin*||0||0||0||0||0||0||45,000|
|Weir Farm 5 oz Silver Coin*||0||0||0||0||0||0||45,000|
|Salt River Bay 5 oz Silver Coin*||0||0||0||0||0||0||45,000|
|Marsh Billings 5 oz Silver Coin*||0||0||0||0||0||45,000||45,000|
|$1 American Eagle 1 Oz Platinum Coin*||0||0||0||0||0||0||56,500|