Gold and silver futures moved higher in their start to the new trading month on Thursday following their sharp loses in August.
Gold for December delivery gained $5.70, or 0.4%, to settle at $1,317.10 an ounce on the Comex division of the New York Mercantile Exchange.
"Technicals show that gold and silver prices need some correction and will see some mild rebound. But Friday’s jobs data is going to be crucial," Reuters quoted Jiang Shu, chief analyst at Shandong Gold Group. "If the jobs data is going to be good, gold will fall to $1,260-$1,270 levels as markets will hope for a rate hike in September."
Gold futures ranged from a low of $1,305.50 to a high of $1,318.60. They tumbled 3.4% in August, closing on Wednesday at their lowest point since June 23.
Silver for December delivery tacked on 23.6 cents, or 1.3%, to settle at $18.943 an ounce, after diving 8.1% last month. Silver futures traded between $18.65 and $19.
In other precious metals futures action:
-
October platinum fell $4.60, or 0.4%, to $1,048.90 an ounce, ranging from $1,043 to $1,059.40.
- Palladium for December delivery dropped $8.25, or 1.2%, to $661.70 an ounce, trading between $657.70 and $677.35.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold edged up 25 cents to $1,309.50 an ounce.
- Silver shed 9 cents, or 0.5%, to $18.65 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Coin Sales in 2016
U.S. Mint bullion products logged their own advances to start September with sales of 8,000 ounces in gold coins and 140,000 ounces in silver coins.
Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold during varying periods Products with an asterisk (*) are no longer available.
| US Mint Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Thursday Sales | Last Week | This Week | Aug Sales | Sept Sales | 2016 Sales | |
| $100 American Eagle 1 Oz Platinum Coins* | 0 | 1,000 | 0 | 1,000 | 0 | 20,000 |
| $50 American Eagle 1 Oz Gold Coins | 5,000 | 6,000 | 17,500 | 50,000 | 5,000 | 491,000 |
| $25 American Eagle 1/2 Oz Gold Coins | 1,000 | 1,000 | 1,000 | 3,000 | 1,000 | 52,000 |
| $10 American Eagle 1/4 Oz Gold Coins | 0 | 2,000 | 0 | 4,000 | 0 | 100,000 |
| $5 American Eagle 1/10 Oz Gold Coins | 15,000 | 15,000 | 25,000 | 60,000 | 15,000 | 630,000 |
| $50 American Buffalo 1 Oz Gold Coins | 1,000 | 2,500 | 1,500 | 9,000 | 1,000 | 132,500 |
| $1 American Eagle 1 Oz Silver Coins | 140,000 | 430,000 | 410,000 | 1,280,000 | 140,000 | 29,040,500 |
| 2016 Shawnee 5 Oz Silver Coins* | 0 | 0 | 0 | 0 | 0 | 105,000 |
| 2016 Cumberland Gap 5 Oz Silver Coins* | 0 | 0 | 0 | 0 | 0 | 75,000 |
| 2016 Harpers Ferry 5 Oz Silver Coins | 0 | 500 | 1,000 | 1,900 | 0 | 36,100 |
| 2016 Theodore Roosevelt 5 Oz Silver Coins | 0 | 500 | 27,500 | 27,500 | 0 | 27,500 |
