Gold, silver, other commodities and U.S. stocks traded higher Tuesday as the wait for election day ended and investors bet on the certainty of an outcome, one way or the other.
Gold for December delivery advanced $31.80, or 1.9%, to settle at $1,715.00 an ounce on the Comex in New York. Gold traded through intraday levels of $1,683.50 and $1,720.90.
"We do know this much," Reuters quoted Peter Kenny, managing director at Knight Capital in Jersey City, New Jersey. "Though the resident in the White House may change, the face of Washington is still going to be one of tremendous gridlock, discord and dysfunction, and markets are going to force Washington to come to terms with the dysfunction."
Silver for December delivery settled up 90.6 cents, or 2.9%, to $32.034 an ounce, trading between $31.070 and $32.275.
Platinum for January delivery rose $15.60, or 1.0%, to $1,558.30 an ounce, ranging from $1,539.10 to $1,564.50.
Palladium for December delivery shot up $17.15, or 2.8%, to $620.15 an ounce, trading between $610.75 and $621.65.
London Precious Metals
Precious metals in London were mixed. In contrasting the most recent London PM fixings:
- Gold added $7.50, or 0.4%, to $1,691.00 an ounce,
- Silver gained 49.0 cents, or 1.6%, to $31.40 an ounce,
- Platinum lost $1.00, or 0.1%, to $1,543.00 an ounce, and
- Palladium advanced $19.00, or 3.2%, to $617.00 an ounce
U.S. Mint Bullion Coin Sales in November
Sales levels were unchanged Tuesday for U.S. Mint bullion products. On Monday, sales of American Eagle silver coins jumped 800,000, more than each of the past four weekly totals.
The grid below lists the latest daily, November and year-to-date bullion sales figures as provided by the U.S. Mint.
| US Mint American Eagle and Buffalo Bullion Coin Sales | |||
|---|---|---|---|
| Daily Sales | November Sales | YTD 2012 | |
| $50 American Gold Eagle Coin | 0 | 18,500 | 483,000 |
| $25 American Gold Eagle Coin | 0 | 0 | 63,000 |
| $10 American Gold Eagle Coin | 0 | 0 | 66,000 |
| $5 American Gold Eagle Coin | 0 | 0 | 280,000 |
| $50 American Buffalo Gold Coins | 0 | 0 | 107,500 |
| American Eagle Silver Coins | 0 | 1,000,000 | 29,948,000 |
| America the Beautiful 5 Oz. Silver Bullion Coin Sales | |||
|---|---|---|---|
| Daily Sales | November Sales | All-Time Total | |
| 2012 El Yunque National Forest 5 oz. Silver Bullion Coins | 0 | 1,250 | 19,350 |
| 2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins | 0 | 1,250 | 19,450 |
| 2012 Acadia National Park 5 oz. Silver Bullion Coins | 0 | 0 | 21,800 |
| 2012 Hawai’i Volcanoes 5 oz. Silver Bullion Coins | 0 | 0 | 15,000 |
| 2012 Denali National Park 5 oz. Silver Bullion Coins | 0 | 2,500 | 15,000 |
| 2011 Olympic National Park 5 oz. Silver Bullion Coins | 0 | 0 | 85,900 |
| 2011 Vicksburg National Military Park 5 oz. Silver Bullion Coins | 0 | 0 | 39,500 |
| 2011 Chickasaw Park 5 oz. Silver Bullion Coins | 0 | 0 | 29,700 |
| TOTAL | 0 | 5,000 | 245,700 |
