Precious metals registered across-the-board gains for a second day in a row Thursday. Platinum was the biggest winner, surging 1.7%. Each of the other metals logged increases of less 1%. Gains in gold and silver were actually their third straight.
Gold for December delivery tacked on $9.40, or 0.5%, to settle at $1,964.30 an ounce on the Comex division of the New York Mercantile Exchange.
"Technically, October gold futures bulls have the firm overall near-term technical advantage amid recent choppy trading. Prices are still in a five-month-old uptrend on the daily bar chart. Bulls’ next upside price objective is to produce a close in October futures above solid resistance at the September high of $1,992.50. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $1,900.00," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
Gold futures ranged from a low of $1,948.60 to a high of $1,975.20. They added 0.6% on Wednesday, and they rose 0.5% in starting the holiday-shortened week on Tuesday.
Silver for December delivery advanced 20.8 cents, or 0.8%, to close at $27.291 an ounce. Silver futures traded between $26.86 and $27.76. They edged up 0.3% on Wednesday and they increased 1% on Tuesday.
In other precious metals prices Thursday:
October platinum rose $16.10 to $941 an ounce, ranging from $920.60 to $947.50.
- Palladium for December delivery added $12.70, or 0.6%, to $2,330.90 an ounce, trading between $2,285 and $2,352.50.
London Precious Metals Prices (LBMA)
In comparing London gold and silver prices from Wednesday PM to Thursday PM:
- Gold rose $19.05, or 1%, to $1,966.25 an ounce.
- Silver gained 57 cents, or 2.2%, to $27.105 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||July||August||This Week / Sept.||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||0||107,500||104,000**||1,500||540,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||4,000||10,000**||1,000||56,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||10,000||20,000**||2,000||86,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||35,000||70,000**||10,000||290,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||30,000||28,000**||500||184,500|
|$1 American Eagle 1 Oz Silver Coin||0||0||1,084,500||4,477,000**||1,000,000||19,178,000|
|America Samoa 5 oz Silver Coin*||0||0||0||0||0||45,000|
|Weir Farm 5 oz Silver Coin*||0||0||0||0||0||45,000|
|Salt River Bay 5 oz Silver Coin*||0||0||0||0||0||45,000|
|Marsh Billings 5 oz Silver Coin*||0||0||45,000||0||0||45,000|
|$1 American Eagle 1 Oz Platinum Coin*||0||0||0||0||0||56,500|
**On Wednesday, the U.S. Mint published adjusted August sales of American Buffalo coins to 28,000 from 22,500; changed August sales of American Silver Eagles to 4,477,000 from 2,593,000; and modified August sales of American Gold Eagles with the 1-ounce size to 104,000 from 86,000; the 1/2-ounce size to 10,000 from 6,000; the 1/4-ounce size to 20,000 from 12,000; and the 1/10-ounce size to 70,000 from 30,000.