Precious metals futures rebounded Thursday, Sept. 7. Gold and silver scored their fourth set of gains in the last five sessions with the former notching a one-year high and the latter ending at its best price in more than 20 weeks.
Gold for December delivery tacked on $11.30, or 0.8%, to settle at $1,350.30 an ounce on the Comex division of the New York Mercantile Exchange. The close is the highest since Sept. 6, 2016 when prices ended at $1,354 an ounce.
"The yellow metal was supported by a rapidly wilting U.S. dollar against the major currencies. The U.S. dollar index dropped to a 2.5-year low today," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Bullish charts continue to invite technically based buying in both the gold and silver markets."
Gold futures traded from a low of $1,337.20 to a high of $1,355.50. They fell 0.4% in the previous session and climbed 1.1% in their start to the new trading week on Tuesday.
Silver for December delivery gained 20.6 cents, or 1.2%, to finish at $18.116 an ounce. The settlement is the strongest since April 19 when prices ended at $18.162 an ounce. Silver futures ranged from $17.86 to $18.22. They dipped 0.2% on Wednesday and gained 0.7% on Tuesday.
In other precious metals futures prices:
-
October platinum added $9.70, or 1%, to $1,016.80 an ounce, trading between $1,003.70 and $1,021.
- Palladium for December delivery advanced $16.95, or 1.8%, to $948.85 an ounce, ranging from $931.80 to $954.35. On Friday, they ended at $977.10 an ounce for their strongest close since February 2001.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold rose $5.65 or 0.4%, to 1,343.50 an ounce.
- Silver added 2 cents, or 0.1%, to $17.79 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Sales in 2017
United States 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 | Last Week | August | This Week / September | YTD | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 20,000 |
| $50 American Eagle 1 Oz Gold Coin | 0 | 500 | 6,500 | 2,000 | 164,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 2,000 | 0 | 29,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 2,000 | 0 | 54,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 15,000 | 0 | 305,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 500 | 3,000 | 0 | 75,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 600,000 | 1,025,000 | 25,000 | 15,603,500 |
| 2017 Effigy Mounds 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 35,000 |
| 2017 Frederick Douglass 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 20,000 |
| 2017 Ozark Riverways 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 20,000 |
| 2017 Ellis Island 5 Oz Silver Coin* | 0 | 40,000 | 39,500 | 500 | 40,000 |
