Precious metals futures registered sharp advances Thursday. Their gains ranged from 1.1% for gold to 6.7% for silver.
Gold for December delivery rose $21.40 to settle at $1,970.40 an ounce on the Comex division of the New York Mercantile Exchange.
"Traders have once again stepped in to buy the dip in this week’s price action and keep the near-term uptrends alive. That’s what happens routinely in extended bull runs in markets," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note.
Gold futures ranged from a low of $1,923 to a high of $1,974.80. They edged up 0.1% on Wednesday, they fell 4.6% on Tuesday, and they rose 0.6% on Monday. Last Thursday, they ended at a record settlement of $2,069.40 an ounce.
Silver for September delivery surged $1.74 to close at $27.718 an ounce. Silver futures traded between $25.35 and $27.86. They shed 0.3% on Wednesday, they dropped 11% on Tuesday, and they surged 6.3% on Monday — logging their best finish since Feb. 19, 2013.
In other precious metals prices Thursday:
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October platinum added $23.80, or 2.5%, to $983 an ounce, ranging from $942.10 to $985.40.
- Palladium for September delivery climbed $48.60, or 2.2%, to $2,216.80 an ounce, trading between $2,150.70 and $2,235.80.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold rose $12.35, or 0.6%, to $1,944.25 an ounce.
- Silver added 44 cents, or 1.7%, to $26.25 an ounce.
US Mint Bullion Sales in 2020
U.S. Mint bullion sales were unchanged Thursday. 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 | Last Week | This Week | June | July | August | 2020 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 28,500 | 38,000 | 42,500 | 107,500 | 66,500 | 501,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 2,000 | 4,000 | 0 | 45,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 2,000 | 10,000 | 0 | 64,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 0 | 35,000 | 0 | 210,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 6,500 | 12,000 | 7,500 | 30,000 | 18,500 | 174,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 918,000 | 675,000 | 1,398,000 | 1,084,500 | 1,593,000 | 15,294,000 |
| America Samoa 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 0 | 45,000 |
| Weir Farm 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 0 | 45,000 |
| Salt River Bay 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 0 | 0 | 45,000 |
| Marsh Billings 5 oz Silver Coin* | 0 | 0 | 0 | 0 | 45,000 | 0 | 45,000 |
| $1 American Eagle 1 Oz Platinum Coin* | 0 | 0 | 0 | 0 | 0 | 0 | 56,500 |
