Precious metals declined on Thursday with losses ranging from 0.7% for gold to 2.3% for platinum. Silver returned to a more than two-month settlement low.
Gold for April delivery fell $12.20 to settle at $1,878.50 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold and silver prices are weaker and close to daily lows in midday U.S. trading Thursday. Technical selling in the futures markets is featured amid a lack of fresh fundamental news today, as the near-term chart postures for both metals have deteriorated the past week," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
Gold futures traded between $1,870.20 and $1,902.30. They rose 0.3% on Wednesday, they climbed 0.3% on Tuesday, and they gained 0.2% on Monday.
Silver for March delivery shed 27.7 cents, or 1.2%, to settle at $22.143 an ounce. The close was the lowest since silver finished at $21.781 an ounce on Nov 30. Silver futures ranged from $21.91 to $22.62. They advanced 1.1% on Wednesday, they dipped 0.3% on Tuesday, and they lost 0.8% on Monday.
In other precious metals futures prices on Thursday:
-
April platinum dropped $23 to $964.20 an ounce, trading between $957.50 and $992.80.
- Palladium for March delivery lost $19.20, or 1.2%, to $1,616.70 an ounce, ranging from $1,592.50 to $1,669.
US Mint Bullion Sales in 2023
Published United States Mint bullion coin sales were unchanged on Thursday. 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) | ||||
|---|---|---|---|---|
| Last Week | January Sales | This Week / February | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 13,500 | 118,000 | 9,000 | 127,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 2,000 | 37,000 | 1,000 | 38,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 10,000 | 62,000 | 2,000 | 64,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 115,000 | 65,000 | 180,000 |
| $50 American Buffalo 1 Oz Gold Coin | 5,500 | 59,000 | 5,000 | 64,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 3,949,000 | 450,000 | 4,399,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 |
