Precious metals futures closed lower Thursday for the first time in four sessions. Palladium slipped from an all-time record while silver and gold fell from multi-month highs.
Gold for April delivery dropped $20.10, or 1.5%, to settle at $1,327.80 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold was due for a correction as the current rally was getting very extended," Michael Armbruster, managing partner at Altavest, told MarketWatch. "In our opinion, the pullback we’re seeing in gold is technical in nature."
Gold futures ranged from a low of $1,326.50 to a high of $1,344.30. They added 0.2% on Wednesday — closing at their best price since April 19, and advanced 1.7% on Tuesday.
Silver for March delivery sank 37.6 cents, or 2.3%, to close at $15.801 an ounce. Silver futures traded between $15.77 and $16.08. They rose 1.3% on Wednesday — marking their best settlement since June 29, and gained 1.4% on Tuesday.
In other precious metals futures prices Thursday:
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April platinum shed $7.90, or 1%, to $826.30 an ounce, ranging from $820.70 to $832.90.
- Palladium for March delivery fell $17, or 1.2%, to $1,445.10 an ounce, trading between $1,425.40 and $1,470.70. On Wednesday, palladium ended at a record settlement of $1,462.10 an ounce.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM
- Gold declined $12.50, or 0.9%, to $1,331.25 an ounce.
- Silver fell 12.5 cents, or 0.8%, to $15.91 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint 2019 Bullion Sales
United States Mint bullion sales climbed by 775,000 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 | January | February | 2019 Sales | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 400 | 0 | 27,100 | 1,800 | 28,900 |
| $50 American Eagle 1 Oz Gold Coin | 0 | 2,000 | 1,500 | 44,500 | 8,000 | 52,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 15,000 | 1,000 | 16,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 20,000 | 0 | 20,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 5,000 | 5,000 | 85,000 | 10,000 | 100,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 2,500 | 0 | 23,500 | 5,500 | 29,000 |
| $1 American Eagle 1 Oz Silver Coin | 775,000 | 775,000 | 997,500 | 4,017,500 | 2,057,500 | 6,075,000 |
