For the first time this week, precious metals did not decline collectively. Silver, platinum, and palladium all experienced gains, with the latter two rebounding from significant settlement lows. However, gold continued its downward trajectory for the ninth consecutive time, further contributing to its twelfth loss in thirteen sessions, and marking its weakest price in five months.
Gold for December delivery fell by $13.10, or 0.7%, to settle at $1,915.20 an ounce on the Comex division of the New York Mercantile Exchange.The settlement registered as the lowest point since March 14.
"Gold prices are modestly down and hit another five-month low today, as U.S. Treasury yields are on the rise, with the 10-year note scoring its highest yield in 15 years, at around 4.3%. The present rally in the U.S. dollar index is another bearish element that have the gold and silver sellers in overall control," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily research note.
During the day, gold futures traded between $1,914.20 and $1,933.50. They gave back 0.4% on Wednesday, they shed 0.5% on Tuesday, and they dipped 0.1% on Monday.
Snapping a four-session losing streak, silver for September tacked on 18 cents, equivalent to 0.8%, and ended at $22.715 an ounce. Throughout the day, silver futures fluctuated between $22.39 and $23.07, following losses of 0.5% on Wednesday, and 0.2% on both Monday and Tuesday. On Wednesday, silver marked its lowest close since June 23.
In other precious metals prices on Thursday:
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Rising for the first time in five sessions, October platinum rose by $4.30, or 0.5%, to finish at $895.60 an ounce, trading between $884 and $913.60. On Wednesday, platinum logged its lowest settlement since Oct. 19, 2022.
- Up for the first time in four sessions, palladium for September delivery added $8.10, or 0.7%, to close at $1,220.50 an ounce, with prices ranging from $1,205.50 to $1,241. On Wednesday, platinum posted its lowest ending price since Jan. 3, 2019.
US Mint Bullion Sales in 2023
On Tuesday, Wednesday, and Thursday, published U.S. Mint bullion sales figures remained unchanged. On Monday, and for only the second time this month, the Mint reported gains of 760,000 ounces in American Silver Eagles, 11,500 ounces in American Gold Buffalos, and a combined total of 8,500 ounces in American Gold Eagles.
The table below presents a breakdown of U.S. Mint bullion products sold, with columns indicating the number of coins sold (not total ounces) during different time periods.
| US Mint Bullion Sales (# of coins) | |||||||
|---|---|---|---|---|---|---|---|
| Thursday | Last Week | This Week | June | July | August | 2023 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 8,000 | 8,000 | 35,000 | 41,000 | 16,000 | 682,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 2,000 | 0 | 1,000 | 0 | 2,000 | 75,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 0 | 4,000 | 0 | 2,000 | 134,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 55,000 | 5,000 | 60,000 | 0 | 60,000 | 445,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 0 | 11,500 | 17,000 | 16,500 | 11,500 | 304,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 823,000 | 760,000 | 1,482,000 | 209,100,000 | 1,583,000 | 13,398,000 |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 3,500 | 0 | 0 | 12,700 |
Spot gold closed at under $1900 an ounce today…
NumisdudeTX
Mortgage rate hit a new high. Jackson hole expected to reveal more increases. Gas finished higher. Hawaii electric got smashed. From bud light being the target, to target to targeting Hawaii light company. Blame the content of character of tourist for needing electricity, not the color of skin of the people running the gubmint there and the utilities. 3 years of infrastructure. Go cat go. You can do anything but stay off of my blue state rules. I’m sure president Karin will update us from her press secretary account.
D & C,
Biden got Congress (both Democrats & Republicans) to pass the largest infrastructure bill since FDR. Our past presidents have allowed the investment in infrastructure in the entire country to stagnate to the point of major bridges cracking & some falling down.
You go girl! (black, lesbian, intellectual, press secretary).
NumisdudeTX
Only problem is, we all know money passed for projects never go to projects. Usually goes to new oversight department or construction company owned by family members of the signers. Like all that small business money from covid incentives. Going to a convict. People buying millions in luxury cars. Didn’t Obama invest in Puerto Rico, then Maria flattened it. All that bail out cash for Airlines yet they still can’t fly, hire pilots etc. Bail out car companies, all moved to Mexico. Saving Taiwan but have to pay for chip plant, and ship the workers from Taiwan to America, pay… Read more »
D & C, Like I said, the Democrats & Republicans agreed on the infrastructure bill they passed. Biden has been known for 40 years as able to work across the aisle with Republicans & at least get something done. Republican Mitch McConnell is and has been an obstructionist for decades, he wouldn’t even let Obama have his own U.S. Mint Director for 8 years (the only president in history to not have his own appointment confirmed by the Senate for that position). Are you saying private citizen Trump should get special treatment under federal & state laws because he used… Read more »
Not saying Trump get special treatment. Biden either. Any of them. But I do believe in innocent until proven guilty. I am aware of mudslinging (slander/defamation) too. Remember how bad kamala talked about Joe during her run for president, dropped out and suddenly his vice and best friend. Whether the charges are legit or not depends on perception, but waiting 7 months to begin trial and starting day before the caucus can seem to be a political play. Why not even 6 months. And with so many conspiracy theory lovers, you just provide ammo. You know trump gonna claim rigged,… Read more »
Just curious, Dazed and Coinfused. How long did it take you to type this one out? It would have taken me probably 10 hours or more to put together this volume of material. Anything I would say that is not opinion and is fact checkable and I am not 100% sure I am correct, I would verify with some searches on the internet before posting. I do not always agree with your posts, but this one for example, would probably take me a full day or more to verify/respond point by point, and give my own opinion to your opinions.… Read more »
I replied. Showed waiting approval. Apparently 1st amendment freedom of speech (nothing errant, nothing derogatory, nothing personal) is trumped by the freedom of the press. Shame really. As I believe the reply was longer than my original post. Not the first time.
That is all right, Dazed and Coinfused. Remember that happened to me once before when we were discussing stocks. I was not going to redo it after all the time I had spent on the first one, and they do not tell you what the reason is for the review. I do not know if you noticed, but I pretty much answered my own question to you when I pumped out a long post of my own in reply to Jeffrey Schwartz on another thread.
Jeff Legan-
Re: “How else can we remain the United States?”; my opinion is that it isn’t very likely, long term. Nationally, we seem to more divided than at any other time since 1860. Given how well that turned out, I fear for the future of the U.S. and the world. Without a strong America, many other democracies around the world seem likely to fail. I’d really hate to see the Balkanization of the U.S. lead to three strongman world powers- America, Russia & China.
I’m old enough to really need civilization, so I fear that which threatens it.
I am with you on that one (needing civilization, I am not as tough as I used to be), Sam-I-Am. That is a big reason I stepped in around 3 years ago when I came to the realization that the friendly and welcoming site I had followed and posted occasionally on for some years, was now a toxic cesspool of insults and memes. I thought removing personal insults was the cure. It sure took a fight. I have been pleased to see me and others here (Thank you all so much, I could not have done it alone.) were able… Read more »
D & C, I feel for you…your country as you see it is falling apart & you feel useless to stop it. You are worrying, & obsessing on large issues you have no control over. My best advice is to talk to a professional LPC & find out why you issue very long, stream of consciousness manifestos online here & probably elsewhere that have nothing to do with a coin news website. I am guilty of falling for it because I am a “caretaker” or “Jewish mother” type of guy. But, I don’t have all the answers either. I have… Read more »
Dazed, I think the victims are the 20 something youngsters that have to deal with this ‘Cater replica’ environment. The mortgage for a home may not be as high, yet, but in 1980 we didn’t have to pay $400 plus thousand for a house. I guess this is what building the economy ‘from the bottom up to the middle out’ looks like. I’d hate to be a stock holder of HE as that utility will probably have to declare bankruptcy in the near future. I wouldn’t usually consider moving to a deep blue state, ever, but I hear they’re having… Read more »
Hawaii will be an island for the rich and politicians. The 99% won’t be able to get to them. They’ll work from home to control the military or have China do it since they’ll retire. They don’t want to live in a mountain in a bunker. They’ll party on Oprah’s yacht and enslave the locals like Zuckerberg did. They’ll be untouchable. They’ll rebuild and upgrade infrastructure and when it becomes modern and they have fireproof, waterproof and live off grid and have farms they’ll do just fine. Skyline internet. And robot army on mainland to ensure Americans stay in line.… Read more »
The victims are the ones that rely on subscriptions and Influences to tell them how to think and to parrot out of context or censored information and blindly follow. Those unable to think for themselves and indoctrinated. They will be quickly round up and become the batteries for the matrix. And agent Smith didn’t even explain the reason for the censorship. That’s when they’ll strip you of the innocent until proven guilty right and try and execute you for nothing.
People cashing in savings and retirements. Usually gold first to be sold to cover margins. Not that many people buying in cuz loans can’t be had for free like before. Keep robbing big corporate taco trucks. That’ll teach em. Help your neighbor, the small business owner pay more for insurance cuz somebody gotta subsidize the losses of millions of dollars of luxury goods and jewelry (pronounced jurry to throw cops off the trail) . That’s socialism at work. Luckily, the big guys can buy the mom. And pop stores at discount after that, further creating monopoly and control of supply,… Read more »
It was 1916 and 22 for silver most of the day. Didn’t check bell prices but China market open so it’ll start back up.
At this very moment spot gold is $1894.40 in new session trading. It closed below the $1900 psychology mark in the last session. The USA dollar got stronger & U.S. Treasury yield was up to about 4.3%.
NumisdudeTX
We changed definition of recession. We removed all the indicators that make our policy look bad and added real world indicators like cost of balloons, floppy discs, reduced tax on vcrs and black and white tvs. So with that data, we are crushing it.
I am a bit perplexed as to why people are so consternated over the receding prices of metals. I’m not pouring money into metals, I’m pouring money into high yield assets. Take a few hundred thousand and get a return between 4.5 – 5% plus, I’m lovin it!
I’d literally have to become a Democrat and take $100k. Lord knows honest living ain’t propped up my bank account to those levels. Maybe because I paid my bills and paid off student loans and spent thousands getting my wife here legally and even more getting her citizenship and paying for classes to improve her English. Not to mention paying for permits to repair and fix my house, buying materials instead of stealing them from other jobsites, and paying taxes and car insurance. Getting a honest job that pays $15 bucks an hour installing ductwork even with 12 years experience… Read more »
And besides, Kaiser, they’ll only buy more at lower prices. Buy low, sell high!
Only issue with metal. It’s metal.