Gold and silver futures ended lower in their March start on Tuesday while platinum and palladium advanced. Gold’s decline was attributed to contracted, yet better-than-expected U.S. factory data that boosted investors’ appetite for riskier assets.
Gold for April delivery shed $3.60, or 0.3%, to settle at $1,230.80 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold saw some profit-taking pressure set in Tuesday, following recent gains. An improved risk appetite on this day also worked against the safe-haven metal," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
Gold prices ranged from a low of $1,227.70 to a high of $1,249.30. On Monday, they advanced 1.1% to finish 10.6% higher in February — their best monthly gain since January 2012.
Silver for May delivery declined 16.2 cents, or 1.1%, to settle at $14.756 an ounce. Silver prices traded between $14.74 and $15.10. They gained 1.4% in the previous session, ending 4.7% higher in February.
In other precious metals futures on Tuesday:
April platinum rose $2.40, or 0.3%, to $936.70 an ounce, ranging from $932.80 to $946.70.
- Palladium for June delivery rallied $21.70, or 4.4%, to $517.35 an ounce, trading between $491.25 and $523.25.
London Precious Metals Prices
Earlier fixed London gold and silver prices moved higher. In comparing their levels from Monday PM to Tuesday PM:
- Gold added $1.60, or 0.1%, to $1,236.50 an ounce.
- Silver added 24 cents, or 1.6%, to $14.99 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Sales in 2016
United States Mint bullion sales were unchanged Tuesday following solid gains on Monday and strong results for February. Below is a sales breakdown of United States Mint bullion products with columns listing the number of bullion coins sold during varying periods of time.
|US Mint Bullion Sales (# of coins)|
|Tuesday Sales||Last Week||This Week||Jan Sales||Feb Sales||Mar Sales||2016 Sales|
|$50 American Eagle 1 Oz Gold Coins||0||6,000||9,000||89,000||67,500||0||156,500|
|$25 American Eagle 1/2 Oz Gold Coins||0||1,000||0||23,000||6,000||0||29,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||2,000||2,000||36,000||12,000||0||48,000|
|$5 American Eagle 1/10 Oz Gold Coins||0||25,000||25,000||145,000||100,000||0||245,000|
|$50 American Buffalo 1 Oz Gold Coins||0||4,500||2,000||34,000||19,000||0||53,000|
|$1 American Eagle 1 Oz Silver Coins||0||1,073,500||736,500||5,954,500||4,782,000||0||10,736,500|
|2016 Shawnee 5 Oz Silver Coins||0||30,000||0||N/A||105,000||0||105,000|