In precious metals dealings Thursday, only palladium ended lower. Gold’s increase was its first in five sessions.
Gold for June delivery tacked on $46.30, or 2.9%, to settle at $1,637.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Monday.
"Gold and silver prices are trading sharply up in midday U.S. trading Thursday and are near session highs after the U.S. government reported a massive increase of 6.6 million in jobless claims in the latest reporting week," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
"The big U.S. data point this week will not be Friday’s monthly employment report (usually the most important data point of the month) but instead it was Thursday morning’s weekly jobless claims report," Wyckoff added.
Gold futures ranged from a low of $1,595.20 to a high of $1,626.60. They shed 0.3% on Wednesday — registering their lowest finish since March 23, they dropped 2.8% on Tuesday — marking gains of 1.9% in March and 4.8% in the first quarter of 2020, and they shed 0.7% on Monday.
Silver for March delivery surged 67 cents, or 4.8%, to settle at $14.654 an ounce. The close was the highest since last Thursday.
Silver futures traded between $13.99 and $14.72. They declined 1.2% on Wednesday — also logging their lowest close since March 23, they rose 2% on Tuesday — ending 14% lower for the month of March and registering a 21% decline in the first quarter, and they fell 2.8% on Monday.
In other precious futures Thursday:
-
July platinum added $12.20, or 1.7%, to $730 an ounce, ranging from $712.80 to $734.90.
- Palladium for June delivery declined $19.10, or 0.9%, to $2,121.70 an ounce, trading between $2,039.90 and $2,235.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold gained $40.25, or 2.6%, to $1,616.80 an ounce.
- Silver rose 16 cents, or 1.1%, to $14.175 an ounce.
US Mint Bullion Sales in 2020
United Stats Mint bullion sales on Thursday increased by 24,500 ounces in American Gold Eagles.
In addition, the U.S. Mint adjusted March sales of American Eagle gold, silver, and platinum bullion coins. March sales of $50 American Gold Eagles increased to 133,000 coins from 123,500 coins, lifting their first quarter total to 174,500 coins. American Silver Eagles for March rose to 5,482,500 coins from 4,832,500 coins for a first quarterly total of 9,978,500 coins. Platinum American Eagles for March increased to 31,200 coins from 6,200 coins for a first quarter total of 55,000 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 / This Week | Last Week | January | February | March | 2020 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 34,000 | 50,000 | 38,000 | 3,500 | 133,000 | 199,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 5,000 | 23,000 | 2,000 | 8,000 | 33,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 14,000 | 18,000 | 2,000 | 20,000 | 40,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 25,000 | 60,000 | 20,000 | 95,000 | 175,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 2,000 | 21,000 | 1,000 | 47,500 | 69,500 |
| $1 American Eagle 1 Oz Silver Coin | 650,000 | 1,650,000 | 3,846,000 | 650,000 | 5,482,500 | 9,978,500 |
| $1 American Eagle 1 Oz Platinum Coin | 25,000 | 0 | 14,500 | 9,300 | 31,200 | 55,000 |
