Aside from platinum, prices for precious metals declined on Thursday, led by a near 3% drop in palladium. While gold slipped for the first time in five sessions and from a two-week high, its loss was very slight.
Gold for December delivery shed $1, or less than 0.1%, to settle at $1,947.10 an ounce on the Comex division of the New York Mercantile Exchange.
"Traders are awaiting the marketplace event of the week, if not the month: the annual Federal Reserve symposium held in Jackson Hole, Wyoming," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note. "This meeting usually produces some market-sensitive news from world central bankers’ comments, including Fed Chair Jerome Powell."
The Federal Reserve is conducting its yearly symposium in Jackson Hole, Wyoming, spanning from Aug. 24 to Aug. 26.
Gold futures traded between $1,939.20 and $1,951.30. They advanced 1.2% on Wednesday, marking their highest settlement since Aug. 10, they rose by 0.2% on Tuesday, and they increased by 0.3% on Monday.
Falling for the first time in six sessions, and after closing at the highest price since July 31, silver for September retraced by 16.2 cents, or 0.7%, to end at $24.23 an ounce. Throughout the day, silver prices ranged from $24.11 to $24.42, following a 4% surge on Wednesday, a 0.5% rise on Tuesday, and a 2.7% jump on Monday.
In other precious metals prices on Thursday:
-
October platinum added $4.80, or 0.5%, to $943 an ounce, trading between $930.10 and $948.
- Palladium for September delivery declined by $36.80, or 2.9%, to $1,244.60 an ounce, ranging from $1,232 to $1,288.50.
US Mint Bullion Sales in 2023
Published U.S. Mint bullion sales were unchanged on Tuesday, Wednesday, and Thursday. On Monday, they increased by 36,500 ounces in American Gold Eagles, 756,000 ounces in American Silver Eagles, and 8,000 ounces in American Gold Buffalos.
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 | June | July | August | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 8,000 | 36,500 | 35,000 | 41,000 | 52,500 | 719,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 1,000 | 0 | 2,000 | 75,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 4,000 | 0 | 2,000 | 134,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 0 | 60,000 | 0 | 60,000 | 445,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 11,500 | 8,000 | 17,000 | 16,500 | 19,500 | 312,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 760,000 | 756,000 | 1,482,000 | 209,100,000 | 2,339,000 | 14,154,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 3,500 | 0 | 0 | 12,700 |
