Gold Declines as Silver, Platinum and Palladium Rise Thursday, Dec. 10

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Gold Bullion Overshadowing Other Bars
Gold futures retreated less than 0.1% on Thursday, Dec. 10

Silver, platinum and palladium logged gains Thursday while gold recorded its second consecutive loss after having hit a three-week high on Tuesday.

Gold for February delivery gave back $1.10, or 0.06%, to settle at $1,837.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Wednesday, Dec. 2.

"The safe haven metals are now languishing and need a new fundamental spark to reinvigorate the bulls. The precious metals are being squelched this week amid less risk aversion in the marketplace," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.

Gold futures ranged from a low of $1,831.50 to a high of $1,851.30. They fell 1.9% on Wednesday, they rose 0.5% on Tuesday — marking their best settlement since Nov. 17, and they gained 1.4% on Monday.

Silver for March delivery rose 10.4 cent, or 0.4%, to close at $24.094 an ounce. Silver futures traded between $23.82 and $24.34. They tumbled 3% on Wednesday, for their lowest settlement since Nov. 30, they dipped 0.2% on Tuesday and they rose 2.2% on Monday, finishing at their best level since Nov. 16.

In other precious metals prices Thursday:

  • January platinum gained $9.20, or 0.9%, to $1,027.70 an ounce, ranging from $1,005.80 to $1,049.20.

  • Palladium for March delivery surged $44.90, or 2%, to $2,335.50 an ounce, trading between $2,266.50 and $2,383.50.

London Precious Metals Prices (LBMA)

In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:

  • Gold added $2.60, or 0.1%, to $1,844.35 an ounce.
  • Silver lost 20 cents, or 0.8%, to $23.885 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales increased Thursday by 6,500 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. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Thursday Last Week This Week October November December 2020 Sales
$50 American Eagle 1 Oz Gold Coin 6,500 12,500 22,500 64,500 77,000 29,000 728,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 6,000 4,000 0 68,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 8,000 10,000 0 106,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 0 25,000 35,000 0 350,000
$50 American Buffalo 1 Oz Gold Coin 0 7,500 1,000 19,500 23,500 5,500 237,000
$1 American Eagle 1 Oz Silver Coin 0 800,000 475,000 3,397,000 4,805,000 751,000 30,089,500
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 0 45,000
Tallgrass Prairie 5 oz Silver Coin* 0 0 0 0 0 0 45,000
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 0 56,500

 

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