Precious metals prices fell Thursday, logging declines ranging from 1.1% for gold to 4.4% for platinum. Losses in gold and silver were their first in four sessions.
Gold for December delivery shed $20.60 to settle at $1,949.90 an ounce on the Comex division of the New York Mercantile Exchange.
"Safe-haven gold and silver prices are solidly lower at midday Thursday despite eroding trader/investor risk appetite and global stock markets that were weaker today. This seemingly conflicting scenario has played out often the past few months, confounding the precious metals market bulls. Still, such situations have also invited metals bulls to step in and buy the dips to keep the overall price uptrends alive in gold and silver," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
Gold futures ranged from a low of $1,938.20 to a high of $1,969.30. They climbed 0.2% on Wednesday — logging their highest settlement since Sept 1, they edged up 0.1% on Tuesday, and they gained 0.8% on Monday.
Silver for December delivery dropped 37.6 cents, or 1.4%, to close at $27.10 an ounce. Silver futures traded between $26.40 and $27.40. They edged 0.04% higher on Wednesday — marking their best finish since Sept. 1, they finished up 0.4% on Tuesday, and they gained 1.9% on Monday.
In other precious metals futures prices on Thursday:
-
October platinum sank $42.60 to $930.90 an ounce, ranging from $925.40 to $977.
- Palladium for December delivery tumbled $82.30, or 3.4%, to $2,335.30 an ounce, trading between $2,310.30 and $2,413.90.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold fell $25.55, or 1.3%, to $1,936.25 an ounce.
- Silver declined 63.5 cents, or 2.3%, to $26.745 an ounce.
US Mint Bullion Sales in 2020
The United States Mint bullion sales advanced Thursday by a combined 6,000 ounces in American Gold Eagles.
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 | July | August | September | 2020 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 5,500 | 1,500 | 7,500 | 107,500 | 104,000 | 9,000 | 548,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 1,000 | 1,000 | 1,000 | 4,000 | 10,000 | 2,000 | 57,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 0 | 10,000 | 20,000 | 2,000 | 86,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 10,000 | 0 | 35,000 | 70,000 | 10,000 | 290,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 500 | 1,000 | 30,000 | 28,000 | 1,500 | 185,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 1,000,000 | 331,000 | 1,084,500 | 4,477,000 | 1,331,000 | 19,509,000 |
| 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 | 45,000 | 0 | 0 | 45,000 |
| $1 American Eagle 1 Oz Platinum Coin* | 0 | 0 | 0 | 0 | 0 | 0 | 56,500 |
