Gold prices climbed on Thursday to continue their cycle of up and then down closings that began a week ago. Changes over the last three days have been modest.
Gold for December delivery rose $2.40, or 0.2%, to end at $1,161.50 an ounce on the Comex division of the New York Mercantile Exchange.
"Today’s jobless numbers were disappointing and gave a boost to gold," George Gero, a New York-based precious-metals strategist who helps manage $500 million at RBC Capital Markets LLC, said in a telephone interview according to Bloomberg News. "At these prices, we will see more physical buyers come in."
Initial claims for unemployment benefits rose by 12,000 to 290,000 for the week ended Nov. 8, the Labor Department said Thursday. Economists were looking for claims to rise at around 280,000, according to most news reports.
Gold prices ranged from a low of $1,153 to a high of $1,167.40. They slipped in prior session by $3.90, or 0.3%.
Silver for December delivery was about flat, dropping less than one-half cent to settle at $15.62 an ounce. The precious metal traded between $15.54 and $15.79. Silver shed 5.5 cents, or 0.4%, on Wednesday.
In PGM futures on Thursday:
-
January platinum shed $6.30, or 0.5%, to $1,199 an ounce, ranging from $1,194.40 to $1,206.90.
- Palladium for December delivery lost $2.80, or 0.4%, to $770.85 an ounce, trading between $764.10 and $780.15.
London Fix Precious Metals
Earlier fixed London precious metals were split as well. In contrasting London bullion Fix prices from Wednesday PM to Thursday PM:
- Gold declined $2.75, or 0.2%, to $1,161.75 an ounce,
- Silver gained 12 cents, or 0.8%, to $15.74 an ounce,
- Platinum fell $3, or 0.2%, to $1,201 an ounce, and
- Palladium lost $5, or 0.6%, to $771 an ounce
US Mint Bullion Coin Sales in November
United States Mint bullion coin sales were unchanged for a third straight day. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold last week, this week, last month, in November and the year to date.
| American Eagle and Buffalo Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Thursday Sales | Last Week | Current Week | October Sales | November Sales | YTD Sales | |
| $100 American Platinum Eagle Bullion Coins | N/A | 400 | N/A* | 16,700 | ||
| $50 American Eagle Bullion Gold Coins | 0 | 29,000 | 1,000 | 57,500 | 30,000 | 383,500 |
| $25 American Eagle Bullion Gold Coins | 0 | 2,000 | 0 | 6,000 | 2,000 | 40,000 |
| $10 American Eagle Bullion Gold Coins | 0 | 4,000 | 4,000 | 8,000 | 8,000 | 108,000 |
| $5 American Eagle Bullion Gold Coins | 0 | 15,000 | 15,000 | 50,000 | 30,000 | 520,000 |
| $50 American Buffalo Bullion Gold Coins | 0 | 6,000 | 500 | 21,000 | 6,500 | 167,000 |
| $1 American Eagle Silver Bullion Coins | 0** | 1,260,000 | 0 | 5,790,000 | 1,260,000 | 39,381,000 |
| Great Smoky Mountains National Park 5 Oz Silver Bullion Coins | 0 | 0 | 0 | 0 | 0 | 33,000 |
| Shenandoah National Park 5 Oz Silver Bullion Coins | 0 | 400 | 0 | 900 | 400 | 22,800 |
| Arches National Park 5 Oz Silver Bullion Coins | 0 | 0 | 0 | 0 | 0 | 22,000 |
| Great Sand Dunes 5 Oz Silver Bullion Coins | 0 | 600 | 0 | 4,200 | 600 | 16,800 |
| Everglades 5 Oz Silver Bullion Coins | 0 | 22,000 | 0 | N/A | 22,000 | 22,000 |
*The U.S. Mint stopped selling bullion Platinum Eagles on Oct. 1. The agency will begin selling 2015-dated issues in early January.
**Sales of the agency’s most popular bullion coin, the one-ounce American Silver Eagle, have been on hold since they sold out on Nov. 5. The Mint will resume bullion Silver Eagle sales on Nov. 17.
