Gold and silver futures rallied Thursday, each posting gains of 3.6%. Gold settled at its best price in more than five years while silver closed at an almost three-month high.
Gold for August delivery rallied $48.10 to finish at $1,396.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Sept. 3, 2013 when gold ended at $1,412 an ounce.
"Major central banks that are leaning easy on their monetary policies are boosting the metals and the raw commodity sector, in general," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Gold is also seeing increased safe-haven buying interest as tensions in the Persian Gulf are on the rise."
Gold futures ranged from a low of $1,361.30 to a high of $1,397.70. They edged 0.1% lower on Wednesday, gained 0.6% on Tuesday, and dipped 0.1% on Monday.
Silver for July delivery surged 53.4 cents to close at $15.492 an ounce. The close was the highest since March 25 when the precious metal finished at $15.567 an ounce. Silver futures traded between $15.12 and $15.52. They lost 0.2% on Wednesday, rose 1.1% on Tuesday, and climbed 0.2% on Monday.
In other precious metals futures prices on Thursday:
-
July platinum dipped 20 cents, or less than 0.1%, to $805.60 an ounce, ranging from $805.10 to $823.90.
- Palladium for September delivery declined $12, or 0.8%, to $1,480.60 an ounce, trading between $1,461.60 and $1,525.10.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold gained $35.45, or 2.6%, to $1,379.50 an ounce.
- Silver added 38.5 cents, or 2.6%, to $15.33 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 were unchanged. Below is a sales breakdown of U.S. Mint 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 / This Week | Last Week | April | May | June | 2019 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 3,000 | 6,500 | 3,500 | 3,500 | 77,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 1,000 | 0 | 0 | 19,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 2,000 | 0 | 0 | 26,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 25,000 | 5,000 | 5,000 | 145,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 2,000 | 6,500 | 3,000 | 3,000 | 47,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 326,500 | 1,196,000 | 866,000 | 550,000 | 9,537,000 |
| American Memorial Park 5 Oz Silver Coin | 0 | 0 | N/A | 78,000 | 0 | 78,000 |
| Lowell 5 Oz Silver Coin* | N/A | 80,000 | ||||
| $100 American Eagle 1 Oz Platinum Coin* | N/A | 6,500 | N/A | 0 | 40,000 | |
