In precious metals prices on Thursday, gold and silver rose modestly while platinum and palladium each declined by more than 1%.
Gold for June delivery increased by $3, or 0.2%, to settle at $1,999 an ounce on the Comex division of the New York Mercantile Exchange.
"Technically, June gold futures bulls have the firm overall near-term technical advantage. However, a six-week-old uptrend on the daily bar chart has stalled out. Bulls’ next upside price objective is to produce a close above solid resistance at the April high of $2,063.40. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at the April low of $1,965.90," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures ranged within $1,982 to $2,013.30, after falling by 0.4% on Wednesday, edging 0.2% higher on Tuesday, and rising by 0.5% on Monday.
Meanwhile, silver for July delivery — the new, most-active contract — tacked on 13.8 cents, or 0.6%, to settle at $25.209 an ounce. Silver futures traded between $24.74 and $25.41, after shedding 0.02% on Wednesday, dropping 1.7% on Tuesday, and increasing by 1% on Monday.
In other precious metals prices on Thursday:
-
July platinum gave back $12.80, or 1.2%, to $1,093.20 an ounce, ranging within $1,085.30 to $1,114.40.
- Palladium for June delivery fell by $16, or 1.1%, to $1,492.40 an ounce, trading between $1,458.50 and $1,526.50.
US Mint Bullion Sales in 2023
Published sales figures from the U.S. Mint on Thursday showed gains in bullion coins for the first time this week. Specifically, American Gold Eagles saw an increase totaling 37,500 ounces and American Gold Buffalos increased by 4,000 ounces.
The table below presents a breakdown of U.S. Mint bullion products sold, with columns indicating the number of coins sold during different time periods.
| US Mint Bullion Sales (# of coins) | |||||||
|---|---|---|---|---|---|---|---|
| Thursday / This Week | Last Week | January Sales | February | March | April | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 37,000 | 47,500 | 118,000 | 41,500 | 211,000 | 159,000 | 529,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 37,000 | 8,000 | 1,000 | 8,000 | 54,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 62,000 | 12,000 | 10,000 | 12,000 | 96,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 115,000 | 85,000 | 10,000 | 35,000 | 245,000 |
| $50 American Buffalo 1 Oz Gold Coin | 4,000 | 22,000 | 59,000 | 19,500 | 73,000 | 61,000 | 212,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 450,000 | 3,949,000 | 900,000 | 900,000 | 900,000 | 6,649,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | N/A | N/A | 7,500 | 500 | 8,000 |
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