On Thursday, the prices of precious metals showed minimal changes, with gold, silver, and platinum edging slightly higher, while palladium experienced a slight dip.
Ending higher for the first time since Monday, gold for December delivery rose by $6, or 0.3%, to settle at $1,993.50 an ounce on the Comex division of the New York Mercantile Exchange. Gold futures traded between $1,986.30 and $1,999.20.
"Technically, December gold futures bulls have the overall near-term technical advantage. Prices are in a four-week-old uptrend on the daily bar chart. Bulls’ next upside price objective is to produce a close above solid resistance at $2,050.00. 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.
Also rising for the first time since Monday, silver for December tacked on 5.6 cents, or 0.3%, ending at $22.846 an ounce. Silver futures traded between $22.75 and $23.24.
In other precious metals prices on Thursday:
-
January platinum edged up by 20 cents, or 0.02%, to $930.60 an ounce, ranging from $919.90 to $942.10.
- Palladium for December delivery shed $3.60, or 0.3%, to $1,110.60 an ounce, trading between $1,109 and $1,131.50.
US Mint Bullion Sales in 2023
U.S. Mint bullion sales last changed on Wednesday, with adjusted bullion sales for October increasing by 5,500 ounces in American Gold Eagles, by 632,000 ounces in American Silver Eagles, and by 3,000 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 / November | Last Week | This Week | August | September | October | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 7,500 | 4,000 | 78,000 | 27,500 | 97,000 | 869,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 3,000 | 2,000 | 13,000 | 7,000 | 95,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 4,000 | 0 | 2,000 | 30,000 | 18,000 | 182,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 150,000 | 40,000 | 30,000 | 605,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 4,500 | 3,000 | 19,500 | 18,500 | 36,500 | 367,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 1,019,000 | 632,000 | 3,124,000 | 2,970,000 | 3,938,000 | 21,847,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 0 | 12,700 |
Whatever happened to rodium and ruthenium being the buzzwords? They climbed faster than icarus for a while there