Gold fell from a more than four-month high and for the first time in four sessions Tuesday. Profit-taking was the common catalyst cited for the day’s modest loss.
Gold prices for December delivery dipped $5.90, or 0.4%, to close at $1,669.70 an ounce. Gold moved between intraday levels of $1,659.10 and $1,674.90. Trading volume was relatively light. Analysts opine that some investors are sidelined ahead of Fed Chairman Ben Bernanke’s Friday speech at an annual meeting in Jackson Hole, Wyoming.
"The market is in a wait-and-watch mode ahead of the meeting," Frank McGhee, the head dealer at Integrated Brokerage Services LLC in Chicago, said in a telephone interview relayed on Bloomberg. "We are also witnessing some profit taking."
In other New York bullion futures prices:
Silver for December delivery shed 17.3 cents, or 0.6%, to settle at $30.875 an ounce. The white metal touched an intraday low of $30.485 and reached a high of $30.975.
Platinum for October delivery fell $32.80, or 2.1%, to $1,520.40 an ounce, ranging from $1,517.50 to $1,547.00.
- Palladium for December delivery — the new, most active contract — declined $15.35, or 2.3%, to $640.95 an ounce. Palladium traded between $637.25 and $654.00.
London Precious Metals
Following a holiday break on Monday, London markets reopened with mixed results. When comparing London PM Fix prices:
- Gold edged up $1.00, or 0.1%, to $1,668.00 an ounce,
- Silver advanced 44.0 cents, or 1.4%, to $30.81 an ounce,
- Platinum declined $16.00, or 1.0%, to $1,521.00 an ounce, and
- Palladium lost $3.00, or 0.5%, to $640.00 an ounce
U.S. Mint Bullion Coins
Sales levels for U.S. Mint bullion coins were unchanged Tuesday as of 4:22 PM ET. The following grid offers the most recent daily, August and year-to-date bullion sales figures, as published by the United States Mint.
|US Mint American Eagle and Buffalo Bullion Coin Sales|
|Daily Gains||August Gains||YTD 2012|
|$50 American Eagle Gold Coins||0||21,000||334,500|
|$25 American Eagle Gold Coins||0||1,000||57,000|
|$10 American Eagle Gold Coins||0||0||54,000|
|$5 American Eagle Gold Coins||0||20,000||210,000|
|$50 American Buffalo Gold Coins||0||6,500||85,500|
|American Silver Eagle Coins||0||2,121,000||21,791,000|
|America the Beautiful 5 Oz. Silver Bullion Coin Sales|
|Daily Gains||August Gains||All-Time Total|
|2012 El Yunque National Forest 5 oz. Silver Coins||0||600||13,800|
|2012 Chaco Culture National Historical Park 5 oz. Silver Coins||0||1,100||8,500|
|2012 Acadia National Park 5 oz. Silver Coins||0||5,200||15,100|
|2011 Olympic National Park 5 oz. Silver Coins||0||300||85,800|
|2011 Vicksburg National Military Park 5 oz. Silver Coins||0||100||39,200|
|2011 Chickasaw Park 5 oz. Silver Coins||0||100||29,500|
U.S. Mint bullion sales above are in coin totals, not in amount of ounces sold.