Prices of precious metals were mixed on Thursday, with gold and platinum rising, while silver and palladium fell. Gold ended the day at a more than 11-week high.
Gold for December delivery rose by $12.20, or 0.6%, to finish at $1,980.50 an ounce on the Comex division of the New York Mercantile Exchange. The close was gold’s highest since July 31.
"The markets are seeing some price consolidation following recent solid gains. Mild profit-taking from the shorter-term futures traders was featured in earlier trading. Still-keener risk aversion in the general marketplace as the Middle East crisis continues to play out will very likely keep a floor under the two safe-haven metals [gold and silver] for at least the near term," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,957 and $1,987.50. They advanced by 1.7% on Wednesday, they edged up by 0.07% on Tuesday, and they declined by 0.4% on Monday.
Elsewhere, silver for December delivery shed 6.8 cents, or 0.3%, closing at $23.031 an ounce. Silver futures ranged from $22.78 to $23.19. They inched up by 0.3% on Wednesday, for their highest settlement since Sept. 26, they moved up by 1.1% on Tuesday, and they slipped by 0.6% on Monday.
In other precious metals prices on Thursday:
-
January platinum increased by $3.90, or 0.4%, to $898.20 an ounce, trading between $882 and $903.20.
- Palladium for December delivery declined by $15.50, or 1.4%, to $1,118.50 an ounce, ranging from $1,099 to $1,136.50.
US Mint Bullion Sales in 2023
U.S. Mint bullion sales last changed on Tuesday, with reported gains totaling 26,500 ounces in American Gold Eagles, 751,000 ounces in American Silver Eagles, and 7,500 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 | August | September | October | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 21,000 | 24,000 | 78,000 | 27,500 | 85,500 | 857,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 1,000 | 2,000 | 13,000 | 3,000 | 91,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 6,000 | 2,000 | 2,000 | 30,000 | 14,000 | 178,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 15,000 | 150,000 | 40,000 | 30,000 | 605,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 8,000 | 7,500 | 19,500 | 18,500 | 29,000 | 360,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 751,000 | 751,000 | 3,124,000 | 2,970,000 | 2,287,000 | 20,196,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 0 | 12,700 |
Kaiser,
And spot palladium is just $94 from going under $1000 per ounce in early morning trading on Friday morning… it’s unbelievable how much it has dropped over the past year or so!
NumisdudeTX
Kaiser and Seth,
Do you guys know how to read charts? Palladium could, and probably will, go back to the $800-$900 range and could drop to below $600. It all depends on circumstances, and circumstances currently don’t favor Pd (unless you count the criminals stealing catylitic converters at record levels).
Major D,
Very interesting physics!
Fun fact: the liquid that makes up human tears can be identified by special medical laboratory tests that can actually tell if the person’s tears were caused by sadness, happiness or from chopping up onions/hot peppers!
NumisdudeTX
Major D,
Lmao…I didn’t know about the “Head Museum”! Is it across the street from the “Giving Head Museum” (an interactive experience)?!
NumisdudeTX
Major D,
Too funny! Adds new meaning to “Live long and prosper.” for sure. (Thanks for the laugh…I really needed it badly with all the horror that is going on since Oct. 7).
NumisdudeTX