Gold closed lower for a second day Tuesday, falling to its lowest price since August 2. Prices declined after the release of better-than-expected U.S. economic data.
Gold prices for December delivery declined $10.20, or 0.6%, to settle at $1,602.40 an ounce. Gold ranged between intraday levels of $1,593.60 and $1,618.90. The precious metal has dropped 1.3% this week.
"Better economic figures may make the Fed postpone or do away with additional stimulus," Reuters quoted George Gero, vice president of RBC Capital Markets.
U.S. retail sales climbed in July for the first time in four months. Sales improved 0.8%, the Commerce Department said in a report Tuesday.
In other New York precious metals futures prices:
Silver prices for September delivery were about flat, down four-tenths of a cent to $27.763 an ounce. Silver traded between $27.575 and $27.970.
Platinum for October delivery advanced $6.30, or 0.5%, to $1,399.10 an ounce, ranging from $1,387.80 to $1,416.40.
- Palladium for September delivery added $3.70, or 0.6%, to $578.40 an ounce, ranging from $573.00 to $581.00.
London Precious Metals
Bullion prices in London declined as well. When comparing London PM Fix prices:
- Gold fell $24.75, or 1.5%, to $1,597.75 an ounce,
- Silver lost 21.0 cents, or 0.7%, to $27.84 an ounce,
- Platinum shed $1.00, or 0.1%, to $1,400.00 an ounce, and
- Palladium declined $4.00, or 0.7%, to $577.00 an ounce
Sales of U.S. Mint Bullion Coins
Sales of U.S. Mint bullion coins were unchanged Tuesday. The latest daily, August and year-to-date sales for U.S. Mint bullion products follow.
|Sales US Mint American Eagle and Buffalo Bullion Coins|
|Daily Gains||August Gains||YTD 2012|
|$50 American Gold Eagle Coins||0||8,500||322,000|
|$25 American Gold Eagle Coins||0||0||56,000|
|$10 American Gold Eagle Coins||0||0||54,000|
|$5 American Gold Eagle Coins||0||5,000||195,000|
|$50 American Buffalo Gold Coins||0||3,500||82,500|
|American Silver Eagle Coins||0||1,390,000||21,060,000|
|Sales of America the Beautiful 5 Oz. Silver Bullion Coins|
|Daily Gains||August Gains||All-Time Total|
|2012 El Yunque National Forest 5 oz. Silver Coins||0||400||13,600|
|2012 Chaco Culture National Historical Park 5 oz. Silver Coins||0||400||7,800|
|2012 Acadia National Park 5 oz. Silver Coins||0||1,100||11,000|
|2011 Olympic National Park 5 oz. Silver Coins||0||0||85,500|
|2011 Vicksburg National Military Park 5 oz. Silver Coins||0||0||39,100|
|2011 Chickasaw Park 5 oz. Silver Coins||0||0||29,400|
Above U.S. Mint bullion sales are in coin totals, not in amount of ounces sold.