Gold ticked higher for a second straight session on Tuesday, bolstered by bargain hunting and a weakening U.S. dollar.
Gold for December delivery gained $5.10, or 0.4%, to close at $1,212.40 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold prices ended the U.S. day session modestly higher Tuesday, on short covering in the futures market and bargain hunting in the cash market. The weakening U.S. dollar index this week is also a bullish underlying factor for gold and the other precious metals," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The gold market bulls are vigorously defending major technical support at the $1,180.00 area, which is the 2013 low."
Gold prices ranged from a low of $1,203 to a high of $1,214.10. They advanced on Monday by $14.40, or 1.2%.
Silver for December delivery rose a penny, or 0.1%, to settle at $17.24 an ounce. The precious metal traded between $17.09 and $17.63. Silver prices surged 40 cents, or 2.4%, in the prior session.
PGM futures also advanced. In their closings:
January platinum settled up $12.70, or 1%, to $1,261.90 an ounce, ranging from $1,240.50 to $1,269.
- Palladium for December delivery jumped $20.90, or 2.7%, to $787 an ounce, trading between $767.85 and $790.
London Fix Precious Metals
Earlier fixed London precious metals also climbed. In contrasting the London bullion Fix prices and the LBMA Silver Price from Tuesday PM to Wednesday PM:
- Gold added $14.75, or 1.2%, to $1,210.50 an ounce,
- Silver turned up 34 cents, or 2%, to $17.36,
- Platinum rose $30, or 2.4%, to $1,259 an ounce, and
- Palladium advanced $22, or 2.9%, to $778 an ounce
US Mint Bullion Coin Sales in October
United States Mint coin sales were unchanged Tuesday as of 3:07 PM ET. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold last week, this week, last month, in early October, and the year to date.
|American Eagle and Buffalo Bullion Sales (# of coins)|
|Tuesday Sales||Last Week||Current Week||September Sales||October Sales||YTD Sales|
|$100 American Platinum Eagle Bullion Coins||0||2,500||0||2,700||400||16,700|
|$50 American Eagle Bullion Gold Coins||0||10,000||12,000||50,500||16,000||312,000|
|$25 American Eagle Bullion Gold Coins||0||1,000||1,000||6,000||2,000||34,000|
|$10 American Eagle Bullion Gold Coins||0||0||2,000||8,000||2,000||94,000|
|$5 American Eagle Bullion Gold Coins||0||10,000||0||30,000||5,000||445,000|
|$50 American Buffalo Bullion Gold Coins||0||4,000||4,500||14,500||7,000||146,500|
|$1 American Eagle Silver Bullion Coins||0||2,740,000||125,000||4,140,000||1,775,000||34,026,000|
|Great Smoky Mountains National Park 5 Oz Silver Bullion Coins||0||1,500||0||3,500||0||33,000|
|Shenandoah National Park 5 Oz Silver Bullion Coins||0||0||0||1,000||0||21,500|
|Arches National Park 5 Oz Silver Bullion Coins||0||0||0||800||0||22,000|
|Great Sand Dunes 5 Oz Silver Bullion Coins||0||800||0||4,500||500||12,500|