The prices for precious metals were divided on Thursday, with gold and silver experiencing an increase, while platinum and palladium saw a decrease.
Gold for August delivery tacked on $20.20, or 1%, to settle at $1,978.60 an ounce on the Comex division of the New York Mercantile Exchange.
Gold and silver prices were "boosted by a solidly lower U.S. dollar index and a dip in U.S. Treasury yields on this day," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
"The marketplace is starting to zero in on next week’s FOMC meeting of the Federal Reserve. The majority of the marketplace thinks the Fed will pause in its interest-rate-tightening cycle. But now many market watchers think the U.S. central bank will follow the Bank of Canada’s recent moves," Wyckoff added.
Gold futures traded between $1,955.20 and $1,985.70, after shedding 1.2% on Wednesday, rising by 0.4% on Tuesday, and climbing by 0.2% on Monday.
Meanwhile, silver for July delivery soared 81.9 cents, or 3.5%, to settle at $24.348 an ounce. Silver futures ranged from $23.51 to $24.46, after losing 0.6% on Wednesday, edging nearly 0.2% higher on Tuesday, and falling by 0.5% on Monday.
In other precious metals prices on Thursday:
-
July platinum fell by $10.70, or 1%, to $1,013.90 an ounce, trading between $1,010.90 and $1,033.
- Palladium for September delivery gave back $29.60, or 2.1%, to $1,358.30 an ounce, ranging from $1,344 to $1,392.
US Mint Bullion Sales in 2023
U.S. Mint published bullion sales have been unchanged so far this month. 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 / Week / June | Last Week | February | March | April | May | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 8,000 | 41,500 | 211,000 | 159,000 | 60,500 | 590,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 18,000 | 8,000 | 1,000 | 8,000 | 18,000 | 72,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 14,000 | 12,000 | 10,000 | 12,000 | 32,000 | 146,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 80,000 | 85,000 | 10,000 | 35,000 | 80,000 | 325,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 8,500 | 19,500 | 73,000 | 61,000 | 47,000 | 259,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 693,000 | 900,000 | 900,000 | 900,000 | 1,593,000 | 8,242,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 1,200 | N/A | 7,500 | 500 | 1,200 | 9,200 |
Palladium is down $57 this morning on Friday & below $1300…Wow!
NumisdudeTX