Gold and silver futures were mixed yet again Thursday. Gold fell for a fourth day in a row and logged a more than two-week low while silver extended its winning streak to three sessions and closed at a more than five-week high.
Gold for December delivery lost $7.10, or 0.6%, to end at $1,266.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the lowest since Oct. 24.
"People are suddenly very bullish on the economy," Bloomberg News quoted Tai Wong, director of commodity products trading at BMO Capital Markets in New York. "Look at stocks, the possibility of higher rates and the stronger dollar, which combined is having a negative effect on gold.
The Dow Jones industrial average closed at a record high of 18,807.88.
Gold futures ranged from a low of $1,258 to a high of $1,292.50. They are 2.9% lower so far this week.
Silver for December delivery advanced 35.9 cents, or 2%, to settle at $18.737 an ounce. The settlement is the highest since Oct. 3. Silver futures traded between $18.38 and $18.99. They rose 0.1% on Wednesday and gained 1.1% on Tuesday.
In other metal dealings:
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January platinum dropped $21.10, or 2.1%, to $982.20 an ounce, trading between $972.70 and $1,009.20.
- Palladium for December delivery tacked on $15.05, or 2.2%, to $696.50 an ounce, ranging from $674.50 to $698.65.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Wednesday PM to Thursday PM:
- Gold declined $13.90, or 1.1%, to $1,267.50 an ounce.
- Silver declined 6 cents, or 0.3%, to $18.75 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
United States Mint bullion products gained with sales of 2,000 ounces in American Buffalo gold coins. Below is a sales breakdown of U.S. Mint bullion coins 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 | Oct Sales | Nov Sales | 2016 Sales | |
| $100 American Eagle 1 Oz Platinum Coins* | – | 20,000 | ||||
| $50 American Eagle 1 Oz Gold Coins | 0 | 23,000 | 19,000 | 100,500 | 35,500 | 701,000 |
| $25 American Eagle 1/2 Oz Gold Coins | 0 | 4,000 | 1,000 | 8,000 | 4,000 | 68,000 |
| $10 American Eagle 1/4 Oz Gold Coins | 0 | 4,000 | 6,000 | 16,000 | 10,000 | 142,000 |
| $5 American Eagle 1/10 Oz Gold Coins | 0 | 10,000 | 25,000 | 75,000 | 30,000 | 805,000 |
| $50 American Buffalo 1 Oz Gold Coins | 2,000 | 7,500 | 4,000 | 28,500 | 8,500 | 186,000 |
| $1 American Eagle 1 Oz Silver Coins | 0 | 370,000 | 425,000 | 3,825,000 | 645,000 | 35,045,500 |
| 2016 Shawnee 5 Oz Silver Coins* | – | 105,000 | ||||
| 2016 Cumberland Gap 5 Oz Silver Coins* | – | 75,000 | ||||
| 2016 Harpers Ferry 5 Oz Silver Coins | 0 | 0 | 0 | 200 | 0 | 36,500 |
| 2016 Theodore Roosevelt 5 Oz Silver Coins | 0 | 300 | 0 | 3,100 | 300 | 32,900 |
Precious metals are down considerably this morning (Friday Nov. 11) with gold down $21. Look like the gold WL quarter might be priced at lesd than the expected $890 issue price next week!
-NumisDudeTX
Today (Friday) gold closed down about $34 & silver tanked down $1.27. Amazing!
Looks like the gold WL half dollar will be $25 or $50 less than the expected price of $890 when issued next Thursday. Great news!
-NumisDudeTX