Gold futures rebounded Thursday, after three consecutive session losses of less than 0.1% each, closing at a two-week high.
Gold for June delivery tacked on $9.30, or 0.7%, to settle at $1,322.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since April 27.
"The metals see upside support from a bit of safe-haven demand, a lower U.S. dollar index, a tame U.S. inflation report, and some short covering in the futures markets.," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note.
Early Thursday, the U.S. Labor Department said consumer prices increased 0.2% in April — below the expectations of a 0.3% increase — but climbed 2.5% year-over-year for the biggest gain since February 2017. Precious metals rose after the news.
Gold futures ranged from a low of $1,310.60 to a high of $1,323.40. They edged down 70 cents on Wednesday, slipped 40 cents on Tuesday, and dipped 60 cents in starting the week on Monday.
Advancing for a second straight session, silver for July delivery added 22 cents, or 1.3%, to close at $16.759 an ounce. Silver futures traded between $16.50 and $16.79. They rose 0.4% on Wednesday, lost 0.1% on Tuesday, and fell 0.2% on Monday.
In other precious metals futures prices on Thursday:
-
July platinum rose $8.50, or 0.9%, to $925.10 an ounce, ranging from $914.40 to $929.20.
- Palladium for June delivery surged $23.30, or 2.4%, to $993.90 an ounce, trading between $968.80 and $997.50.
London Precious Metals Prices
LBMA bullion prices are available on the LBMA website with a delay of midnight.
US Mint Bullion Sales in 2018
United States Mint bullion sales were unchanged for a second day after registering their first gains of the month on Tuesday.
Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.
| US Mint Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Thursday | Last Week | This Week / May | March | April | 2018 Sales | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 20,000 |
| $50 American Eagle 1 Oz Gold Coin | 0 | 500 | 1,500 | 2,500 | 4,000 | 49,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 0 | 0 | 16,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 0 | 0 | 26,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 5,000 | 10,000 | 5,000 | 105,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 500 | 4,500 | 1,000 | 2,000 | 35,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 230,000 | 50,000 | 915,000 | 915,000 | 6,057,500 |
| Pictured Rocks 5 Oz Silver Coin | 0 | 0 | 0 | 10,000 | 0 | 30,000 |
| Apostle Islands 5 Oz Silver Coin | 0 | 0 | 0 | N/A | 30,000 | 30,000 |
