Gold Marks First Loss in Five Sessions on Thursday, Jan. 5

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Precious metals dropped across the board on Thursday. Gold’s loss was its first in five sessions and follows a nearly 7-month settlement high.

Gold for February delivery shed $18.40, or 1%, to settle at $1,840.60 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices have retraced from their recent highs for two reasons. Firstly, it is the strength of the dollar index which is pushing the price of the shining metal lower. Secondly, after the massive run in prices, it is absolutely normal for traders to book some profit off the table," MarketWatch quoted Naeem Aslam, chief market analyst at AvaTrade.

Gold futures traded between $1,829.90 and $1,864.30. They rose 0.7% on Wednesday, scoring their highest settlement since June 10, and they tacked on 1.1% in the start to the new trading week and year on Tuesday.

Silver for March delivery dropped 54 cents, or 2.3%, to close at $23.424 an ounce. Silver futures ranged from $23.26 to $24.06. They fell 1.1% on Wednesday and they gained 0.8% on Tuesday.

In other precious metals prices on Thursday:

  • April platinum lost $22.70, or 2.1%, to $1,069.60 an ounce, trading between $1,066.10 and $1,099.70.

  • Palladium for March delivery declined $64, or 3.6%, to $1,732.70 an ounce, ranging from $1,721 to $1,838.

US Mint Bullion Sales in 2023

Published United States Mint bullion sales last changed on Dec. 29. 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)
August September October November December 2022 Sales 2023 Sales
$50 American Eagle 1 Oz Gold Coin 47,500 47,500 59,500 6,000 4,000 850,000 0
$25 American Eagle 1/2 Oz Gold Coin 2,000 0 2,000 0 0 75,000 0
$10 American Eagle 1/4 Oz Gold Coin 4,000 4,000 2,000 0 0 140,000 0
$5 American Eagle 1/10 Oz Gold Coin 20,000 15,000 15,000 0 0 575,000 0
$50 American Buffalo 1 Oz Gold Coin 22,500 44,500 39,500 4,500 0 410,000 0
$1 American Eagle 1 Oz Silver Coin 850,000 833,000 1,258,000 1,407,000 59,000 15,963,500 0
$100 American Eagle 1 Oz Platinum Coin 1,000 0 0 0 0 80,000 0
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Kaiser Wilhelm

Gold managed to shed less of an amount than palladium and thereby managed to keep a $100-plus spread in its favor between the two leading precious metals. Platinum is continuing to give up some of its value while silver, although having declined in its own relatively miniscule style, is still pretty much holding its place.