Precious Metals Make First Gains in Three Days
Precious metals futures advanced on Thursday for the first time in three days with gains ranging from 0.2% for gold to 1.4% for platinum.
Gold for August delivery rose $2.20 to settle at $1,246.60 an ounce on the Comex division of the New York Mercantile Exchange.
“The U.S. economic data brought weakness in the dollar index and this has helped the gold price,” MarketWatch quoted Naeem Aslam, chief market analyst at Think Markets. “Moreover, we do believe that trade tension (to some extent) is also providing some momentum for gold.”
Early Thursday, the U.S. Labor Department said consumer prices increased 0.1% in June — below the expectations of a 0.2% increase — but surged 6.9% year-over-year for the biggest advance since February 2012. In a separate report, the Labor Department said week jobless claims dropped 18,000 to 214,000.
Gold futures traded from a low of $1,241.40 to a high of $1,248.80. They fell 0.9% on Wednesday to register their lowest close since July 2, shed 0.3% on Tuesday, and rose 0.3% on Monday to mark their best close since June 26.
Elsewhere, silver for September delivery added 16 cents, or 1%, to finish at $15.977 an ounce. Silver futures ranged from $15.78 to $16.03. They dropped 1.7% on Wednesday — ending at their lowest price of the year, declined 0.3% on Tuesday, and climbed 0.4% on Monday.
In other precious metals futures on Thursday:
October platinum gained $11.40 to $846.40 an ounce, trading between $829.10 and $848.50.
- Palladium for September delivery added $11.80, or 1.3%, to $948.80 an ounce, ranging from $930.60 to $949.30.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:
- Gold declined $5.50, or 0.4%, to 1,245.90 an ounce.
- Silver shed 7.5 cents, or 0.5%, to $15.84 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Sales in 2018
United States Mint bullion products logged increases of 50,000 ounces in American Silver Eagles and a combined 10,500 ounces in American Eagle and Buffalo gold coins.
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)|
|Thursday||Last Week||This Week||June||July||2018 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||30,000|
|$50 American Eagle 1 Oz Gold Coin||5,500||6,500||6,000||21,500||12,500||100,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||0||1,000||1,000||18,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||4,000||0||48,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||15,000||0||125,000|
|$50 American Buffalo 1 Oz Gold Coin||5,000||5,500||5,500||6,500||11,000||64,500|
|$1 American Eagle 1 Oz Silver Coin||50,000||75,000||290,000||435,000||365,000||7,187,500|
|Pictured Rocks 5 Oz Silver Coin||0||0||0||0||0||30,000|
|Apostle Islands 5 Oz Silver Coin||0||0||0||0||0||30,000|
|Voyageurs 5 Oz Silver Coin||0||0||0||30,000||0||30,000|