In the precious metals market on Thursday, prices declined for gold, silver, and platinum, while they increased for palladium. Gold and silver experienced their fourth straight losses, and both metals reached their lowest settlements in just over nine weeks.
Gold for June delivery lost $20.90, or 1.1%, to end at $1,943.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since March 21.
Gold futures traded between $1,939.20 and $1,965.40, after falling 0.5% on Wednesday, sliding 0.1% on Tuesday, and dipping 0.2% on Monday.
Gold and silver fell "in the wake of better-than-expected U.S. economic data that falls into the camp of the U.S. monetary policy hawks. A surging U.S. dollar index and rising U.S. Treasury yields are also bearish outside market elements working against the precious metals," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Meanwhile, silver for July delivery declined 33 cents, or 1.4%, to close at $22.91 an ounce. The settlement was the lowest since March 22. Silver futures ranged from $22.80 and $23.26, after dropping 1.6% on Wednesday, falling 1% on Tuesday, and declining 0.8% on Monday.
In other precious metals prices on Thursday:
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July platinum slipped $3.20, or 0.3%, to $1,026.30 an ounce, trading between $1,020.80 and $1,037.40.
- Palladium for June delivery tacked on $17.50, or 1.3%, to $1,415.60, ranging from $1,385 to $1,437.
US Mint Bullion Sales in 2023
U.S. Mint-published bullion sales were unchanged on Thursday and Wednesday, following increases in gold and silver coins on Tuesday and no reported gains on Monday.
The table below presents a breakdown of U.S. Mint bullion products sold, with columns indicating the number of coins sold (not total ounces) during different time periods.
| US Mint Bullion Sales (# of coins) | ||||||||
|---|---|---|---|---|---|---|---|---|
| Thursday | Last Week | This Week | February | March | April | May | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 21,500 | 18,000 | 41,500 | 211,000 | 159,000 | 52,500 | 582,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 8,000 | 1,000 | 8,000 | 0 | 54,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 18,000 | 0 | 12,000 | 10,000 | 12,000 | 18,000 | 132,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 85,000 | 10,000 | 35,000 | 0 | 245,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 9,500 | 6,000 | 19,500 | 73,000 | 61,000 | 38,500 | 251,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 403,000 | 47,000 | 900,000 | 900,000 | 900,000 | 900,000 | 7,549,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | N/A | 7,500 | 500 | 0 | 8,000 |
