Precious metals futures ended mixed Thursday with gold and platinum higher and silver and palladium lower.
Gold for December delivery added $3.80, or 0.3%, to settle at $1,287.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Oct. 19.
"The buying pressure in gold … seems to represent a minor shift in allocations from equities to the metal," MarketWatch quoted Brien Lundin, editor of Gold Newsletter. "The fact that silver is underperforming gold today also indicates some level of safe-haven demand, as opposed to monetary drivers being behind the move."
Gold futures traded from a low of $1,280.50 to a high of $1,289.50. They rose 0.5% in the previous session, declined 0.5% on Tuesday, and advanced 1% in their start to the week on Monday.
Meanwhile, silver for December delivery declined 16.3 cents, or 1%, to close at $16.975 an ounce. Silver futures ranged from $16.91 to $17.15. They advanced 1.2% on Wednesday — ending at their highest price since Nov. 2, dropped 1.7% on Tuesday and jumped 2.4% on Monday.
In other precious metals futures prices:
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January platinum gained $2.70, or 0.3%, to $940.60 an ounce, trading between $932.30 and $942.30.
- Palladium for December delivery fell $11.40, or 1.1%, to $1,004.40 an ounce, ranging from $1,001.85 to $1,023.25. On Wednesday, the metal closed at its best level since February 2001.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold edged up 80 cents, or less than 0.1%, to 1,284.80 an ounce.
- Silver added 10.5 cents, or 0.6%, to $17.10 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 | This Week | October | November | YTD | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 20,000 |
| $25 American Eagle 1 Oz Palladium Coin* | 0 | 0 | 0 | 0 | 0 | 15,000 |
| $50 American Eagle 1 Oz Gold Coin | 0 | 2,000 | 1,500 | 11,000 | 2,500 | 183,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 2,000 | 0 | 32,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 2,000 | 0 | 58,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 0 | 30,000 | 0 | 360,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 1,500 | 500 | 7,000 | 500 | 84,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 40,000 | 90,000 | 1,040,000 | 90,000 | 17,028,500 |
| 2017 Effigy Mounds 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 35,000 |
| 2017 Frederick Douglass 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 20,000 |
| 2017 Ozark Riverways 5 Oz Silver Coin | 0 | 0 | 0 | 0 | 0 | 20,000 |
| 2017 Ellis Island 5 Oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 40,000 |
I think au/ag have found their average prices which should hold for years to come. Gold is still being bought hand over foot in Asian countries as they know the sting of inflation, it makes buying gold and other hard assets pretty easy. As far as the commodity aspect goes, hedgers are dominating that arena. I could suggest all the physical au/ag helps keep price steady, but so does steady interest rates. I think copper/lithium/nickel/zinc/lead are better plays going forward, au/ag are more known for safety and preserving wealth, but with interest rates so low and easy money going crazy… Read more »