While prices for platinum declined on Thursday, they increased for gold, silver and palladium. Notably, silver reached a near 14-month high and topped $26 an ounce, while gold scored its second best settlement ever.
Gold for June delivery rose by $18.70, or 0.9%, to finish at $2,055.70 an ounce on the Comex division of the New York Mercantile. The settlement is the highest since Aug. 6, 2020, when gold ended at a record $2,069.40 an ounce.
“The same flight to safety buying that pushed us over $2,000 is still in this market,” Reuters quoted Bob Haberkorn, senior market strategist at RJO Futures.
Gold futures traded between $2,038.50 and $2,085.40, after increasing by 0.7% on Wednesday, rising by 1.6% on Tuesday, and shedding 0.4% on Monday.
Silver for July delivery tacked on 54.6 cents, or 2.1%, to close at $26.227 an ounce, which marks the highest settlement since March 10, 2022, when silver ended at $26.256 an ounce.
Silver futures fluctuated between $25.70 and $26.35 on Thursday, following a 0.2% increase on Wednesday, a 1.5% gain on Tuesday, and a slight increase of 0.02% on Monday.
In other precious metals prices:
-
July platinum fell by $11.50, or 1.1%, to $1,050.30 an ounce, trading between $1,042.70 and $1,073.80.
- Palladium for June delivery rose by $24.80, or 1.8%, to $1,441.60, ranging from $1,407 to $1,453.
US Mint Bullion Sales in 2023
So far this week, the U.S. Mint has reported no change in bullion sales. The table below presents a breakdown of U.S. Mint bullion products sold, with columns indicating the number of coins sold during different time periods.
| US Mint Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Thursday / Week | Last Week | February | March | April | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 37,000 | 41,500 | 211,000 | 159,000 | 529,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 8,000 | 1,000 | 8,000 | 54,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 12,000 | 10,000 | 12,000 | 96,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 85,000 | 10,000 | 35,000 | 245,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 4,000 | 19,500 | 73,000 | 61,000 | 212,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 900,000 | 900,000 | 900,000 | 6,649,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | N/A | 7,500 | 500 | 8,000 |
I spent the day trying to capitalize on this spike in spot gold price. I did not find this to be as easy or potentially lucrative as I’d envisioned. Much research, many phone calls, solicited online purchases from know coin/bullion dealers and the offers were not as good as I’d apparently, unrealistically had envisioned. Most offers were just barely above(approx. 2-3%) above spot or even well below spot on a 2014 Proof Gold Kennedy Half Dollar, which weighs 3/4oz, .999 fine. Offers ranged from $1,200 on the low side to a max of $1,600. I’d been hoping for just a… Read more »
Yeah. Funny. You can’t buy em for less than $43, but to sell them you’ll get $23. And if you sell online you gotta pay the tax man and provide receipts of the coins you bought 40 years ago, and how much you sold it for today. If not they presume you paid 0 and whatever you sold it for was all profit. The bad thing is, when shtf and gold rockets. 99% of population can’t afford to buy it, and the 1% will refuse to buy it, hoping you default and they can buy it at estate sale for… Read more »
With todays drop in spot, this particular gold JFK is safe for now Kaiser Wilhelm. More than a couple comments on MNB, encouraged me to hold ‘em’ vs fold em’!
Too bad metals don’t increase at a higher rate than inflation and cost of living. Thanks uncle Joe. Keep on going Brandon
Gold is down $44 right now!
NumisdudeTX