Precious metals posted gains Thursday, led by a 1.8% increase in platinum. The metals realized safe-haven support as Wall Street retreated.
Gold for December delivery rose $11.70, or 0.6%, to settle at $1,873.30 an ounce on the Comex division of the New York Mercantile Exchange.
"Safe-haven demand is featured late this week as the early-week stock market rallies are now becoming suspect amid the spike in Covid-19 cases in the U.S. and Europe. The precious metals are also seeing some support from a weaker U.S. dollar index on this day," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
Gold futures ranged from a low of $1,860.70 to a high of $1,878.80. They fell 0.8% on Wednesday, they gained 1.2% on Tuesday and they dropped 6% on Monday, registering their lowest settlement since July 21.
Silver for December delivery settled up 3.9 cents, or 0.2%, to $24.306. Silver futures traded between $24.09 and $24.43. They shed 0.8% on Wednesday, they surged 3.2% on Tuesday and they tumbled 7.6% on Monday, posting their weakest close since Oct. 30.
In other precious metals prices Thursday:
-
January platinum moved up $15.90, or 1.8%, to $884 an ounce, ranging from $865 to $887.
- Palladium for December delivery advanced $25.10, or 1.1%, to $2,341.90 an ounce, trading between $2,315.30 and $2,368.30.
London Precious Metals Prices (LBMA)
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold added $13.90, or 0.8%, to $1,874.85 an ounce.
- Silver gained a half penny, or 0.02%, to $24.215 an ounce.
US Mint Bullion Sales in 2020
United States 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 | September | October | November | 2020 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 22,000 | 7,000 | 18,500 | 64,500 | 29,000 | 651,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 1,000 | 3,000 | 6,000 | 2,000 | 66,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 4,000 | 4,000 | 4,000 | 8,000 | 8,000 | 104,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 15,000 | 10,000 | 10,000 | 25,000 | 25,000 | 340,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 7,500 | 1,500 | 4,500 | 19,500 | 9,000 | 217,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 1,653,000 | 1,048,500 | 2,958,500 | 3,397,000 | 2,701,500 | 27,235,000 |
| 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 | 0 | 0 | 45,000 |
| Tallgrass Prairie 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 |
