Gold futures rallied Thursday, posting their third straight session win and their strongest settlement in more than two months.
Gold for December delivery jumped $34.20, or 2.9%, to settle at $1,227.60 an ounce on the Comex division of the New York Mercantile Exchange. The close was the highest since also ending at $1,227.60 an ounce on Aug. 1.
"While it took a massive washout in equities and a moderate amount of economic anxiety, the safe haven lift in gold is justified given that the Dow Jones Industrial Average into the low this morning has posted a 24 hour decline of 1,300 points," analysts at Zaner Precious Metals wrote in a daily note Thursday according to MarketWatch.
Gold futures ranged from a low of $1,194.70 to a high of $1,230. They rose 0.2% on Wednesday and on Tuesday, and fell 1.4% on Monday to register their lowest close since Sept. 27.
"A very tame U.S. inflation report also boosted the metals markets," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The U.S. consumer price index report for September came in at up a scant 0.1% from August, while expectations were for a 0.2% rise."
The report also showed annual inflation rose 2.3% compared to 2.7% previously.
Silver for December tacked on 28 cents, or 2%, to end at $14.606 an ounce. The finish was the best since Oct. 3. Silver futures traded between $14.27 and $14.65. They fell 0.5% on Wednesday, climbed 0.5% on Tuesday, and declined 2.2% on Monday.
In other precious metals futures prices Thursday:
-
January platinum added $19.30, or 2.3%, to $846.60 an ounce, ranging from $818.30 to $848.
- Palladium for December delivery rose $8, or 0.8%, to $1,075.20 an ounce, trading between $1,059.30 and $1,089.50.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold gained $16.95, or 1.4%, to 1,205.55 an ounce.
- Silver added 2.5 cents, or 0.2%, to $14.40 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Sales in 2018
United States Mint bullion sales grew by a combined 4,000 ounces in American Eagle and Buffalo gold coins.
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 | Week | September | October | 2018 Sales | |
| $100 American Eagle 1 Oz Platinum Coin* | 0 | 0 | 0 | 0 | 0 | 30,000 |
| $50 American Eagle 1 Oz Gold Coin | 3,000 | 4,500 | 6,000 | 14,500 | 10,500 | 161,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 0 | 2,000 | 1,000 | 25,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 4,000 | 0 | 58,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 10,000 | 0 | 40,000 | 10,000 | 210,000 |
| $50 American Buffalo 1 Oz Gold Coin | 1,000 | 1,500 | 1,000 | 11,000 | 2,500 | 110,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 670,000 | 260,000 | 2,897,500 | 930,000 | 13,065,000 |
| Pictured Rocks 5 Oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 30,000 |
| Apostle Islands 5 Oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 30,000 |
| Voyageurs 5 Oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 30,000 |
| Cumberland Island 5 Oz Silver Coin | 0 | 0 | 0 | 52,500 | 0 | 52,500 |
