Precious metals futures logged gains Thursday ranging from 0.4% for gold to 2.5% for palladium. Palladium’s daily advance was its third in a row, and it finished at a new record.
Gold for December delivery gained $4.90 to settle at $1,215 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since last Thursday, Nov. 8.
"Some worries about the health of the U.S. stock market, following the recent sell-offs and increased volatility, are supporting the safe-haven metals," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The precious metals bulls are impressed their markets are able to post modest gains today in the face of a stronger U.S. dollar index."
Gold futures ranged from a low of $1,207.10 to a high of $1,217. They rose 0.7% on Wednesday, fell 0.2% on Tuesday — marking their lowest price since Oct. 10, and they shed 0.4% on Monday.
Silver for December delivery tacked on 18.3 cents, or 1.3%, to settle at $14.263 an ounce. Like for gold, silver’s close was also the highest since Nov. 8. Silver futures traded between $14.07 and $14.31. They added 0.7% on Wednesday, declined 0.2% on Tuesday — ending at their worst price since Jan. 15, 2016, and they lost 0.9% on Monday.
In other precious metals futures prices Thursday:
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January platinum advanced $11.50, or 1.4%, to $845.30 an ounce, ranging from $832.70 to $848.60.
- Palladium for December delivery rallied $27.20 to $1,137.40 an ounce for a new all-time record. Palladium prices trading between $1,105 and $1,161.50.
"There seems to be good demand (for palladium) from electric cars and diesel engines in Europe and China," Reuters quoted George Gero, managing director at RBC Wealth Management. "Palladium is in shorter supply than people realized."
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold gained $8.60, or 0.7%, to 1,211.85 an ounce.
- Silver rose 16 cents, or 1.2%, to $14.13 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 increased by a combined 3,000 ounces in American Eagle and Buffalo gold coins and by 450,000 ounces in American Silver Eagles.
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 | October | November | 2018 Sales | |
| $100 American Eagle 1 Oz Platinum Coin* | 0 | 0 | 0 | 0 | 0 | 30,000 |
| $50 American Eagle 1 Oz Gold Coin | 1,000 | 4,000 | 1,000 | 21,000 | 5,000 | 177,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 2,000 | 0 | 4,000 | 2,000 | 30,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 2,000 | 0 | 2,000 | 2,000 | 2,000 | 62,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 5,000 | 10,000 | 5,000 | 10,000 | 15,000 | 225,000 |
| $50 American Buffalo 1 Oz Gold Coin | 1,000 | 2,000 | 1,000 | 6,500 | 3,000 | 117,500 |
| $1 American Eagle 1 Oz Silver Coin | 450,000 | 405,000 | 865,000 | 1,430,000 | 1,270,000 | 14,835,000 |
| 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 | 0 | 0 | 52,500 |
