Gold closed to its highest price in a week Tuesday after dipping Monday for the fourth time in five sessions.
Gold for June delivery rebounded $14.20, or 0.9%, to end at $1,586.70 an ounce on the Comex in New York. The settlement price was the highest since April 1. Gold moved through an intraday range of between $1,570.00 and $1,590.10.
"Gold prices rallied during the U.S. trading session Tuesday, boosted on short covering and bargain hunting following recent losses that last week pushed prices to a 10-month low," noted Jim Wyckoff of Kitco News.
"The weaker U.S. dollar index Tuesday also prompted fresh buying interest in gold and silver markets."
Last week gold prices dropped $19.80 or 1.2%. The precious metal on Thursday had closed to $1,552.40 an ounce, the lowest price since June 28.
In other New York precious metals futures:
Silver for May delivery surged 74.3 cents, or 2.7%, to $27.881 an ounce, trading between $27.14 and $28.02.
July platinum gained $16.10, or 1.1%, to $1,553.10 an ounce, ranging from $1,533.90 to $1,560.00.
- Palladium for June delivery edged up $3.20, or 0.4%, to $733.00 an ounce, trading between $726.00 and $738.50.
Bullion Prices in London
Precious metals in London logged mostly narrow changes. In contrasting the Monday PM to Tuesday PM London fixings:
- Gold added $2.25, or 0.1%, to $1,577.25 an ounce,
- Silver dipped 2.0 cents, or 0.1%, to $27.25 an ounce,
- Platinum gained $10.00, or 0.7%, to $1,542.00 an ounce, and
- Palladium added $1.50, or 0.2%, to $732.00 an ounce
US Bullion Coin Sales in April
Sales of U.S. Mint bullion products were limited Tuesday to silver coins. American Silver Eagles went up 61,500, a modest increase following their 833,0000 burst on Monday.
The table below offers daily, April and year-to-date bullion coin sales totals as reported by the United States Mint.
|American Eagle and Buffalo Bullion Coin Sales|
|Tuesday Sales||Last Week||Week-To-Date Sales||April Sales||YTD Sales|
|$50 American Eagle Gold Bullion Coins||0||19,000||19,000||38,000||284,500|
|$25 American Eagle Gold Bullion Coins||0||1,000||3,000||4,000||30,000|
|$10 American Eagle Gold Bullion Coins||0||2,000||2,000||4,000||50,000|
|$5 American Eagle Gold Bullion Coins||0||20,000||5,000||25,000||240,000|
|$50 American Buffalo Gold Bullion Coins||0||2,000||2,000||4,000||99,000|
|American Eagle Bullion Silver Coins||61,500||812,000||894,500||1,706,500||15,929,500|
All bullion figures above are in the number of coins sold. Calculate total ounces by using the bullion coin’s weight.
2011-2012 America the Beautiful Five Ounce Bullion Silver Coins sold out on March 1. The U.S. Mint has not released any of this year’s coins.