Gold and silver futures extended their winning streaks on Tuesday to six sessions in a row, each advancing 1% and logging multi-year highs — a more than 2.3-year high for gold and a fresh 2-year high for silver.
Gold for December delivery tacked on $13 to end at $1,372.60 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Mar. 17, 2014 when gold ended at $1,372.90 an ounce. Gold futures traded from a low of $1,353.70 to a high of $1,374.20.
"Gold and the other precious metals prices have been supported recently by a slumping U.S. dollar index," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The near-term technical postures for the precious metals markets are also fully bullish, which is inviting fresh chart-based buying interest."
Elsewhere, silver for September delivery gained 20.1 cents to settle at $20.701 an ounce. The close is the highest since July 23, 2014 when prices ended at $21 an ounce. Silver futures ranged from $20.38 to $20.84.
In rounding out the precious metals complex:
October platinum climbed $8.80, or 0.8%, to $1,172.10 an ounce, trading between $1,159 and $1,183.30.
- Palladium for September delivery added $1.45, or 0.2%, to $717.70 an ounce, ranging from $713.90 to $724.70.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold rose $14.10, or 1%, to $1,363.75 an ounce.
- Silver added 20 cents, or 1, to $20.71 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Coin Sales in 2016
United States Mint bullion coins were unchanged Tuesday, and have yet to hit the sales boards this week. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold during varying periods of time. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Tuesday / August Sales||Last Week||June Sales||July Sales||2016 Sales|
|$100 American Eagle 1 Oz Platinum Coins||0||19,000||N/A||19,000||19,000|
|$50 American Eagle 1 Oz Gold Coins||0||7,500||62,500||30,000||436,000|
|$25 American Eagle 1/2 Oz Gold Coins||0||0||3,000||2,000||48,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||2,000||10,000||10,000||96,000|
|$5 American Eagle 1/10 Oz Gold Coins||0||25,000||70,000||50,000||555,000|
|$50 American Buffalo 1 Oz Gold Coins||0||2,000||14,500||10,000||122,500|
|$1 American Eagle 1 Oz Silver Coins||0||175,000||2,837,500||1,370,000||27,620,500|
|2016 Shawnee 5 Oz Silver Coins*||0||0||0||0||105,000|
|2016 Cumberland Gap 5 Oz Silver Coins*||0||0||0||0||75,000|
|2016 Harpers Ferry 5 Oz Silver Coins||0||0||34,200||0||34,200|