Exactly opposite from the past two days, palladium gained while gold, silver and platinum declined. In the previous session, gold ended near a nine-year high.
Gold for August delivery fell $16.80, or 0.9%, to settle at $1,803.80 an ounce on the Comex division of the New York Mercantile Exchange.
"The most significant development [in the market] seems to concern the breakout in the precious metals given ongoing U.S. dollar weakness at a time when yields also remain weak," wrote Mark Newton, technical analyst at Newton Advisors, in a Thursday research report cited by MarketWatch.
"This time in July should be a sweet-spot for metals strength, and overweighting silver and gold should be favored for additional upside in the weeks ahead," he wrote.
Gold futures ranged from a low of $1,799.60 to a high of $1,825.50. They advanced 0.6% on Wednesday — ending at their best level since Sept. 14, 2011, they tacked on 0.9% on Tuesday, and they rose 0.2% on Monday.
Silver for September delivery declined 19.9 cents, or 1%, to close at $18.962 an ounce. Silver futures traded between $18.83 and $19.44. They rallied 2.5% on Wednesday — registering their highest finish since Sept. 4, they climbed 0.6% on Tuesday, and they gained 1.4% on Monday.
In other precious metals futures Thursday:
-
October platinum dropped $37.10, or 4.2%, to $846.90 an ounce, ranging from $842.30 to $892.90.
- Palladium for September delivery gained $24.90, or 1.3%, to $1,963.20 an ounce, trading between $1,935.90 and $2,019.40.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold added $1, or 0.06%, to $1,812.10 an ounce.
- Silver rose 35 cents, or 1.9%, to $18.835 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales increased by 1,000 ounces in American Gold Buffalos. 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 | May | June | This Week / July | 2020 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 2,000 | 5,500 | 42,500 | 8,500 | 336,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 6,000 | 2,000 | 0 | 41,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 12,000 | 2,000 | 2,000 | 56,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 0 | 0 | 175,000 |
| $50 American Buffalo 1 Oz Gold Coin | 1,000 | 3,000 | 2,500 | 7,500 | 5,000 | 131,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 471,000 | 490,000 | 1,378,000 | 0 | 12,596,500 |
| $1 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 0 | 56,500 |
In terms of 5-ounce silver bullion sales for 2020, the U.S. Mint is working on getting them automated and reported. Initial U.S. Mint-provided figures have the first two 2020-dated pieces at 45,000 produced and sold per issue. These amounts are being verified.
