Precious metals split on Thursday with platinum and palladium gaining and gold and silver declining. Gold’s loss was its first in four sessions.
Gold for April delivery dipped $4.90, or 0.3%, to settle at $1,840.50 an ounce on the Comex division of the New York Mercantile Exchange. Gold futures traded between $1,835.90 and $1,845.30.
"Gold and silver prices are weaker at midday Thursday, as rising U.S. Treasury yields and an appreciating U.S. dollar on the foreign exchange market are bearish outside market forces working against the metals market bulls today," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Silver for May delivery fell 19.4 cents, or 0.9%, to settle at $20.901 an ounce. Silver futures ranged from $20.76 to $21.10.
In other precious metals prices on Thursday:
-
April platinum added $1.40, or 0.2%, to $963.20 an ounce, trading between $948.90 and $967.70.
- Palladium for June delivery gained $7.30, or 0.5%, to $1,444.90 an ounce, ranging from $1,408.50 to $1,466.
US Mint Bullion Sales in 2023
On Thursday, the United States Mint adjusted bullion sales for February with combined increases of 9,000 ounces in American Gold Eagles and 5,000 ounces in American Gold Buffalos.
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 | January Sales | February | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 32,500 | 118,000 | 41,500 | 159,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 7,000 | 37,000 | 8,000 | 45,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 10,000 | 62,000 | 12,000 | 74,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 20,000 | 115,000 | 85,000 | 200,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 14,500 | 59,000 | 19,500 | 78,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 450,000 | 3,949,000 | 900,000 | 4,849,000 |
