Precious metals futures registered mostly slight changes Thursday. Gold logged its first increase in four sessions, climbing from a 2-1/2-week low. Silver, meanwhile, closed lower for a third straight day to post a new 6-week low.
Gold for June delivery added $1.70, or 0.1%, to settle at $1,265.90 an ounce on the Comex division of the New York Mercantile Exchange, after closing Wednesday at its lowest price since April 10.
"Some short covering by the shorter-term futures traders was featured, as well as some perceived bargain-basement buying in both futures and the cash market," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note. "The generally upbeat trader and investor attitudes this week have been a significantly bearish element for the safe-haven metal."
Gold futures ranged from a low of $1,261.80 to a high of $1,271.10. In the previous three sessions, they logged declines totaling 1.9%.
Silver futures for July delivery shed 9.7 cents, or 0.6%, to end at $17.334 an ounce. The settlement is the weakest since March 16. Silver futures traded between $17.29 and $17.54. The most active contrast lost 1.3% on Wednesday, dropped 1.5% on Tuesday, and inched up less than a half-cent on Monday.
In other precious metals futures on Thursday:
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July platinum edged up 30 cents to $948.80 an ounce, ranging from $942.50 to $954.50.
- Palladium for June delivery gained $7.85, or 1%, to $813 an ounce, trading between $800.20 and $815.80.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Wednesday PM to Thursday PM:
- Gold rose 95 cents, or less than 0.1%, to $1,262.80 an ounce.
- Silver declined 13 cents, or 0.7%, to $17.46 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 2017
U.S. Mint bullion sales were unchanged. Below is a sales breakdown of U.S. bullion products with columns listing the number of 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 | Mar Sales | April Sales | 2017 Sales | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 20,000 |
| $50 American Eagle 1 Oz Gold Coin | 0 | 0 | 500 | 16,000 | 3,000 | 126,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 1,000 | 0 | 25,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 4,000 | 2,000 | 46,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 10,000 | 35,000 | 20,000 | 210,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 500 | 500 | 8,500 | 3,000 | 58,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 220,000 | 235,000 | 1,615,000 | 835,000 | 8,792,500 |
| 2017 Effigy Mounds 5 Oz Silver Coin | 0 | 300 | 0 | 200 | 900 | 20,600 |
| 2017 Frederick Douglass 5 Oz Silver Coin | 0 | 4,200 | 1,400 | N/A | 17,600 | 17,600 |
