Gold prices on Tuesday closed lower for a fourth time in five sessions while silver extended its winning streak to three sessions.
Gold for April delivery settled down $16.60, or 1.3%, to $1,260.30 an ounce on the Comex division of the New York Mercantile Exchange.
"Better trader and investor risk appetite Tuesday that boosted the world stock markets was a negative for safe-haven gold," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "However, fully bullish ‘outside markets’ — sharply higher crude oil and a sharply lower U.S. dollar index — did help to lift gold prices up from their daily lows."
Gold traded from a low of $1,255.80 to a high of $1,286.50. Gold prices on Monday shed $2.30, or 0.2%.
Silver for March delivery advanced 7 cents, or 0.4%, to settle at $17.32 an ounce. Silver prices ranged from $17.07 to $17.75.
In PGM futures on Tuesday:
April platinum climbed $6.60, or 0.5%, to $1,235.20 an ounce, trading between $1,222.90 and $1,242.70.
- Palladium for March delivery dipped $2, or 0.3%, to $786 an ounce, ranging from $783.75 to $797.
London Fix Precious Metals
Earlier fixed London precious metals were, again, mostly higher. In comparing London bullion Fix prices from Monday PM to Tuesday PM:
- Gold lost $8.25, or 0.7%, to $1,264.25 an ounce,
- Silver added 37 cents, or 2.2%, to $17.59 an ounce,
- Platinum gained $5, or 0.4%, to $1,228 an ounce, and
- Palladium declined $19, or 2.5%, to $792 an ounce.
US Mint Bullion Coin Sales in February
United States Mint bullion sales were unchanged Tuesday. Below are sales of U.S. Mint bullion products with columns listing the number of bullion coins sold last week, this week so far, in January, and the year-to-date. Coins with an asterisk (*) have sold out for 2014 with 2015-dated versions yet to be released.
|American Eagle and Buffalo Bullion Sales (# of coins)|
|Tuesday Sales||Last Week||This Week||January Sales||YTD Sales|
|$100 American Platinum Eagle Bullion Coins*||0||0||0||0||0|
|$50 American Eagle Bullion Gold Coins||0||1,000||0||51,500||51,500|
|$25 American Eagle Bullion Gold Coins||0||0||0||18,000||18,000|
|$10 American Eagle Bullion Gold Coins||0||0||0||36,000||36,000|
|$5 American Eagle Bullion Gold Coins||0||15,000||0||115,000||115,000|
|$50 American Buffalo Bullion Gold Coins||0||2,000||0||34,500||34,500|
|$1 American Eagle Silver Bullion Coins||0||769,500||391,000||5,530,000||5,921,000|
|Great Smoky Mountains National Park 5 Oz Silver Bullion Coins*||0||0||0||0||0|
|Shenandoah National Park 5 Oz Silver Bullion Coins||0||0||0||600||600|
|Arches National Park 5 Oz Silver Bullion Coins*||0||0||0||0||0|
|Great Sand Dunes 5 Oz Silver Bullion Coins*||0||0||0||0||0|
|Everglades 5 Oz Silver Bullion Coins*||0||0||0||0||0|