Precious metals moved in the same direction for a second straight session Thursday, with palladium rising and gold, silver and platinum falling. Silver dropped sharply to end at a more than 9-1/2-month low. Gold finished the day at its lowest price in five weeks.
Gold for December delivery declined $38.10, or 2.1%, to settle at $1,756.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the worst since Aug. 12.
"Stronger-than-expected U.S. economic reports on Thursday morning, which rallied the U.S. dollar index, helped to send gold and silver prices south. The near-term chart postures for both metals have deteriorated significantly this week, which is also inviting the shorter-term futures traders to play the short side of the markets," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Retail sales rose 0.7% in August, the U.S. Commerce Department reported Thursday, against most economists’ expectations of a decline. Also, jobless claims rose 20,000 to 332,000 in the week ended Sept. 11, the U.S. Labor Department reported, remaining near a pandemic low.
For the day, gold futures ranged from a low of $1,745.50 to a high of $1,797.30. They lost 0.7% on Wednesday, they gained 0.7% on Tuesday — registering their highest settlement since Sept. 3, and they inched 0.1% higher on Monday.
Silver for December delivery tumbled $1.007, or 4.2%, to close at $22.794 an ounce. The finish was silver’s weakest since Nov. 30.
Silver futures traded between $22.58 and $24. They dipped 0.4% on Wednesday, they edged up 0.4% on Tuesday, and they gave back 0.4% on Monday.
In other precious metals futures prices on Thursday:
-
October platinum lost $7.20, or 0.8%, to $923.30 an ounce, ranging from $921 to $950.50.
- Palladium for December delivery advanced $29.90, or 1.5%, to $2,021.50 an ounce, trading between $1,986.50 and $2,079.50.
US Mint Bullion Sales in 2021
Published United States Mint bullion sales increased Thursday by 25,000 ounces in American Silver 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 | August | September | 2021 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 19,500 | 9,500 | 112,000 | 29,000 | 775,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 3,000 | 21,000 | 3,000 | 80,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 6,000 | 34,000 | 6,000 | 126,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 5,000 | 50,000 | 10,000 | 340,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 10,000 | 4,500 | 27,500 | 14,500 | 250,000 |
| $1 American Eagle 1 Oz Silver Coin | 25,000 | 750,000 | 1,500,000 | 3,930,000 | 2,250,000 | 25,190,500 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 75,000 |
| Tuskegee Airmen 5 oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 52,900 |
