Gold and silver futures were nearly unchanged Tuesday as gold climbed a smidgen and silver dropped less than a nickel.
Gold for December delivery inched up 20 cents to $1,241.40 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices traded from $1,239.20 to $1,257.80.
"The smart money is gradually accumulating on the dips. Dollar-cost averaging remains prudent for investors who wish to get exposure to bullion but are concerned about further price falls," MarketWatch quoted Mark O’Byrne, executive director at GoldCore. Dollar-cost averaging is an investment strategy in which an investor invests a set sum in the market on a regular schedule.
On Monday, gold fell $2.90, or 0.2%, to settle at its lowest price since July 8.
Down for the sixth time in seven sessions, silver for December delivery lost 3.4 cents, or less than 0.2%, to settle at $19.85 an ounce. Silver prices ranged from $19.81 to $20.29. The precious metal in the prior session added 2 cents, or 0.1%.
In PGM futures on Tuesday:
January platinum declined $5.90, or 0.4%, to $1,371.90 an ounce, trading between $1,368.50 and $1,391.70.
- Palladium for March delivery, the new most active contract, fell $3.70, or 0.5%, to end at $718.45 an ounce. Prices ranged from $713.50 to $726.60.
London Fix Precious Metals
London bullion fixings were mostly higher. When comparing Monday PM to Tuesday PM London fix prices:
- Gold edged up $4.50, or 0.4%, to $1,247.50 an ounce,
- Silver surged 40 cents, or 2%, to $20.11 an ounce,
- Platinum declined $2, or 0.1%, to $1,381 an ounce, and
- Palladium added $2, or 0.3%, to $720 an ounce
US Mint Bullion Sales in November
Sales totals for United States Mint bullion coins advanced for the one-ounce sizes. Gold Eagles rose 8,000; Gold Buffalos added 4,500 and Silver Eagles gained 107,000.
U.S. Mint bullion sales for day, the month through Nov. 25, and the year-to-date are listed below.
|American Eagle and Buffalo Bullion Sales (# of coins)|
|Tuesday Sales||Last Week||Week-To-Date Sales||November Sales||YTD Sales|
|$50 American Gold Eagle Bullion Coins||8,000||10,500||8,000||39,000||685,000|
|$25 American Gold Eagle Bullion Coins||0||1,000||0||2,000||58,000|
|$10 American Gold Eagle Bullion Coins||0||2,000||0||4,000||118,000|
|$5 American Gold Eagle Bullion Coins||0||5,000||0||20,000||520,000|
|$50 American Buffalo Gold Bullion Coins||4,500||2,000||4,500||12,500||230,500|
|White Mountain 5 oz. Silver Bullion Coins||Sold Out||35,000|
|Perry’s Victory 5 oz. Silver Bullion Coins||0||300||0||900||27,100|
|Great Basin 5 oz. Silver Bullion Coins||0||800||0||1,400||28,600|
|Fort McHenry 5 oz. Silver Bullion Coins||Sold Out||30,000|
|Mount Rushmore 5 oz. Silver Bullion Coins||Sold Out||35,000|
|American Silver Eagle Bullion Coins||107,000||500,000||438,000||1,938,000||41,113,000|