Most precious metals futures advanced Thursday. Gold was the exception, posting its fourth decline in five sessions and closing at a fresh eight-week low.
Gold for December delivery shed $3.60, or 0.3%, to settle at $1,273.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the weakest since Aug. 8 when prices ended at $1,262.60 an ounce.
"Some early-session short covering and bargain hunting gave way to selling pressure tied to risk-on attitudes and a rallying U.S. dollar index," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Also a bearish underlying element for the precious metals markets is recent more hawkish rhetoric coming from the major central banks of the world — namely the Federal Reserve and European Central Bank," Wyckoff added.
Gold futures traded from a low of $1,275.60 to a high of $1,281.60. They rose 0.2% on Wednesday, dipped less than 0.1% on Tuesday, and declined 0.7% on Monday.
Ending higher for the first time in five sessions, silver for December delivery advanced 1.4 cents, or less than 0.1%, to settle at $16.638 an ounce. Silver futures ranged from $16.59 to $16.77. They fell 0.2% on Wednesday — marking their lowest close since Aug. 8, slipped less than 0.1% on Tuesday, and declined 1% on Monday.
In other precious metals futures prices:
-
January platinum added $3.20, or 0.4%, to $918 an ounce, trading between $912.10 and $921.
- Palladium for December delivery tacked on $16.85, or 1.8%, to $936.50 an ounce, ranging from $920.65 to $942.60.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold added 25 cents, or 0.02%, to 1,274.50 an ounce.
- Silver declined 16.5 cents, or 1%, to $16.66 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 bullion sales advanced by 1,000 ounces in American Gold Eagles. 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 | September | This Week / October | YTD | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 20,000 |
| $25 American Eagle 1 Oz Palladium Coin* | 0 | 15,000 | 15,000 | 0 | 15,000 |
| $50 American Eagle 1 Oz Gold Coin | 1,000 | 2,000 | 8,000 | 2,500 | 172,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 1,000 | 1,000 | 31,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 2,000 | 0 | 56,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 25,000 | 5,000 | 335,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 1,500 | 1,000 | 77,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 195,000 | 320,000 | 150,000 | 16,048,500 |
| 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 | 0 | 0 | 0 | 40,000 |
