On Thursday, the prices of precious metals showed minimal changes. Gold and palladium experienced an uptick, while silver and platinum saw a decline. Gold’s increase represented its second consecutive rise and also brought it to another nearly three-month high.
Gold for December delivery edged up $2.50, or 0.1%, to settle at $1,997.40 an ounce on the Comex division of the New York Mercantile Exchange. For a second day, it was gold’s highest settlement since July 31.
"Technically, December gold futures bulls have the overall near-term technical advantage. Prices are in a three-week-old uptrend on the daily bar chart. Bulls’ next upside price objective is to produce a close above solid resistance at the October high of $2,009.20. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $1,950.00," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,981.60 and $2,003.70. They gained 0.4% on Wednesday, they dipped by 0.09% on Tuesday, and they slipped by 0.3% on Monday.
Falling for a fourth straight session, silver for December shed 9.9 cents, or 0.4%, ending at $22.908 an ounce. Silver futures ranged from $22.56 to $23.28. They slipped by 0.5% on Wednesday, they gave back 0.4% on Tuesday, and they fell by 1.2% in the start to the week on Monday.
In other precious metals prices on Thursday:
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January platinum dipped by $3.40, or 0.4%, to $909 an ounce, trading between $900.60 and $920.40.
- Palladium for December delivery rose by $9.20, or 0.8%, to $1,142.80 an ounce, ranging from $1,118 to $1,150.50.
US Mint Bullion Sales in 2023
U.S. Mint bullion sales last changed on Monday, with reported gains totaling 9,000 ounces in American Gold Eagles, 1,019,000 ounces in American Silver Eagles, and 4,500 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 | 24,000 | 7,500 | 78,000 | 27,500 | 93,000 | 865,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 1,000 | 2,000 | 13,000 | 4,000 | 92,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 4,000 | 2,000 | 30,000 | 18,000 | 182,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 15,000 | 0 | 150,000 | 40,000 | 30,000 | 605,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 7,500 | 4,500 | 19,500 | 18,500 | 33,500 | 364,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 751,000 | 1,019,000 | 3,124,000 | 2,970,000 | 3,306,000 | 21,215,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 0 | 12,700 |
