Precious metals recorded across-the-board declines on Thursday. Losses in gold, silver, and platinum were their first in five sessions, while palladium extended its losing streak to two.
Gold for December delivery shed $4.30, or 0.2%, to settle at $1,883 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold and silver prices are slightly down in midday U.S. trading Thursday, following a U.S. consumer inflation reading that was just a bit higher than expected. The markets also saw routine corrective pullbacks from recent price gains," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Earlier on Thursday, the U.S. Labor Department reported that consumer prices had risen by 0.4% last month, compared to the 0.6% increase in August, while annual inflation remained unchanged at 3.7%.
On the day, gold futures traded in the range of $1,880.60 to $1,898.30, experiencing a 0.6% increase on both Tuesday and Wednesday, with a 1% gain recorded on Monday. On Wednesday, the settlement price reached its highest point since Sept. 27.
Silver for December delivery gave back 17.4 cents, or 0.8%, ending at $21.959 an ounce. During the day, silver prices ranged from $21.88 and $22.39, after climbing by 0.8% on Wednesday, for their highest settlement since Sept. 29, rising by 0.1% on Tuesday, and advancing by 0.9% on Monday.
In other precious metals prices on Thursday:
-
January platinum declined by $17.20, or 1.9%, to $875.80 an ounce, trading between $871.10 and $902.60.
- Palladium for December delivery dropped by $22.80, or 2%, to $1,147.50 an ounce, ranging from $1,133 to $1,184.
US Mint Bullion Sales in 2023
U.S. Mint bullion sales last changed on Wednesday, with gains reported for American Gold Eagles, American Silver Eagles, and 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 | August | September | October | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 40,500 | 21,000 | 78,000 | 27,500 | 61,500 | 833,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 2,000 | 0 | 2,000 | 13,000 | 2,000 | 90,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 6,000 | 6,000 | 2,000 | 30,000 | 12,000 | 176,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 10,000 | 5,000 | 150,000 | 40,000 | 15,000 | 590,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 13,500 | 8,000 | 19,500 | 18,500 | 21,500 | 352,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 785,000 | 751,000 | 3,124,000 | 2,970,000 | 1,536,000 | 19,445,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 0 | 12,700 |
Friday the 13th – Gold has shot up $59 !!
NumisdudeTX