Gold Ends at 2-Month Low on Thursday, Feb. 4

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In trading action Thursday, palladium gained modestly while gold, silver and platinum posted rather sharp losses. Gold closed the day at a more than two-month low.

Gold for April delivery lost $43.90, or 2.4%, to settle at $1,791.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Nov. 30.

"Technically, April gold futures prices hit a two-month low today. The gold bears have gained the overall near-term technical advantage. Prices are now in a four-week-old downtrend on the daily bar chart," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.

Gold future ranged from a low of $1,784.60 to a high of $1,835.70. They edged up 0.09% on Wednesday, they fell 1.6% on Tuesday and they rose 0.7% on Monday to post their best close since Jan. 21.

Silver for March delivery declined 65.5 cents, or 2.4%, to settle at $26.234 an ounce. Silver futures traded between $25.93 and $27.02. They tacked on 1.8% on Wednesday, they sank 10.3% on Tuesday, and they soared 9.3% on Monday for their highest finish since Feb. 19, 2013.

In other precious metals futures prices on Thursday:

  • April platinum gave back $11.50, or 1%, to $1,103 an ounce, ranging from $1,084.80 to $1,113.40.

  • Palladium for March delivery rose $4.10, or 0.2%, to $2,280.70 an ounce, trading between $2,236.50 and $2,293.50.

London Precious Metals Prices (LBMA)

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

  • Gold fell $49.55, or 2.7%, to $1,785.90 an ounce.
  • Silver declined 40 cents, or 1.5%, to $26.80 an ounce.

US Mint Bullion Sales in 2021

United States Mint bullion sales were increased Thursday by a combined 28,500 ounces in gold coins.

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 / February December January Sales 2021 Sales
$50 American Eagle 1 Oz Gold Coin 26,000 59,000 42,000 48,500 191,000 233,000
$25 American Eagle 1/2 Oz Gold Coin 0 5,000 0 2,000 22,000 22,000
$10 American Eagle 1/4 Oz Gold Coin 0 8,000 0 0 36,000 36,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 0 95,000 95,000
$50 American Buffalo 1 Oz Gold Coin 2,500 5,500 9,000 10,500 61,500 70,500
$1 American Eagle 1 Oz Silver Coin 0 0 1,621,000 751,000 4,775,000 6,396,000
America Samoa 5 oz Silver Coin* 0 0 0 0 0 0
Weir Farm 5 oz Silver Coin* 0 0 0 0 0 0
Salt River Bay 5 oz Silver Coin* 0 0 0 0 0 0
Marsh Billings 5 oz Silver Coin* 0 0 0 0 0 0
Tallgrass Prairie 5 oz Silver Coin* 0 0 0 0 0 0
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 0
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Jake

Thank you CoinNews. Kitco, they are a bunch of hacks. Buy today sell tomorrow or sell today what you bought yesterday. Lol just look at our chart, oh fancy