Precious metals snapped a string of two straight session losses on Thursday. Their increases ranged from 0.5% for palladium to 2.9% for silver.
Gold for December delivery advanced $29.60, or 1.7%, to settle at $1,793.50 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold and silver prices on Thursday recovered all of Wednesday’s sharp losses. It appears metals traders were preparing for a hawkish FOMC statement and tone from Fed Chairman Jerome Powell Wednesday afternoon, but then after the fact reckoned the Fed may not be leaning as hawkish on U.S. monetary policy as many expected," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures ranged from a low of $1,769.30 to a high of $1,800.30. They fell 1.4% on Wednesday, they shed 0.4% on Tuesday, and they rose 0.7% on Monday.
Silver for December delivery surged 68 cents to settle at $23.911 an ounce. Silver futures traded between $23.48 and $24.12. They lost 1.2% on Wednesday, they fell 2.4% on Tuesday, and they gained 0.5% on Monday.
In other precious metals futures on Thursday:
January platinum added $6.80, or 0.7%, to $1,029.30 an ounce, ranging from $1,025.40 to $1,050.20.
- Palladium for December delivery added $9.20 to $1,996.40 an ounce, trading between $1,987.50 and $2,060.
US Mint Bullion Sales in 2021
Published United States Mint November bullion sales increased Thursday by a 474,500 onces in American Silver Eagles; 7,900 ounces in American Platinum Eagles; and a combined 20,000 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.
|US Mint Bullion Sales (# of coins)|
|Thursday / This Week / Nov||Last Week||August||September||October||2021 Sales|
|$50 American Eagle 1 Oz Gold Coin||17,500||17,500||112,000||67,500||135,500*||966,500|
|$25 American Eagle 1/2 Oz Gold Coin||2,000||4,000||21,000||4,000||7,000||90,000|
|$10 American Eagle 1/4 Oz Gold Coin||2,000||10,000||34,000||8,000||22,000||152,000|
|$5 American Eagle 1/10 Oz Gold Coin||10,000||30,000||50,000||35,000||85,000||460,000|
|$50 American Buffalo 1 Oz Gold Coin||0||2,000||27,500||24,000||38,500||298,000|
|$1 American Eagle 1 Oz Silver Coin||474,500||0||3,930,000||2,735,000||1,076,000||27,226,500|
|$100 American Eagle 1 Oz Platinum Coin||7,900||0||0||0||0||82,900|
|Tuskegee Airmen 5 oz Silver Coin||0||0||0||0||0||52,900|
*The U.S. Mint adjusted October bullion sales on Thursday with $50 American Gold Eagles higher by 3,500 ounces.