Gold closed down for a fifth straight session. The precious metal was alone in its loss on Monday, but not on Tuesday as silver, platinum and palladium also declined.
Gold for December delivery tilted down $2.10, or 0.2%, to $1,167.70 an ounce on the Comex division of the New York Mercantile Exchange. Gold traded from a low of $1,163.40 to a high of $1,175.
"Gold prices ended the U.S. day session narrowly mixed Tuesday — cash (spot) gold slightly higher while Comex futures prices were modestly lower," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The gold bears remain in firm technical control as prices trade not far above the recent four-year low. The key ‘outside markets’ remain in overall bearish postures for the precious metals — a stronger U.S. dollar and slumping crude oil prices."
Silver for December delivery fell 25 cents, or 1.5%, to settle at $15.95 an ounce. Silver prices ranged from $15.91 to $16.17.
In rounding out the precious metals complex:
January platinum declined $18.10, or 1.5%, to $1,224.70 an ounce, trading between $1,217.50 and $1,244.50.
- Palladium for December delivery lost $13.75, or 1.7%, to $790.65 an ounce, ranging from $788 to $805.45.
London Fix Precious Metals
Earlier fixed London precious metals fell as well. In contrasting London bullion Fix prices from Monday PM to Tuesday PM:
- Gold shed $1.25, or 0.1%, to $1,166.50 an ounce,
- Silver fell 3 cents, or 0.2%, to $16.12 an ounce,
- Platinum declined $13, or 1%, to $1,228 an ounce, and
- Palladium turned down $2, or 0.3%, to $798 an ounce
US Mint Bullion Coin Sales in November
United States Mint bullion coin sales were unchanged Tuesday as of 3:37 p.m. ET. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold last week, this week so far, last month, and the year to date.
|American Eagle and Buffalo Bullion Sales (# of coins)|
|Tuesday Sales||Last Week||Current Week||October Sales||YTD Sales|
|$100 American Platinum Eagle Bullion Coins||N/A||400||16,700|
|$50 American Eagle Bullion Gold Coins||0||11,000||10,500||57,500||364,000|
|$25 American Eagle Bullion Gold Coins||0||0||1,000||6,000||39,000|
|$10 American Eagle Bullion Gold Coins||0||0||2,000||8,000||102,000|
|$5 American Eagle Bullion Gold Coins||0||10,000||5,000||50,000||495,000|
|$50 American Buffalo Bullion Gold Coins||0||500||2,500||21,000||163,000|
|$1 American Eagle Silver Bullion Coins||0||1,850,000||625,000||5,790,000||38,666,000|
|Great Smoky Mountains National Park 5 Oz Silver Bullion Coins||0||0||0||0||33,000|
|Shenandoah National Park 5 Oz Silver Bullion Coins||0||500||0||900||22,400|
|Arches National Park 5 Oz Silver Bullion Coins||0||0||0||0||22,000|
|Great Sand Dunes 5 Oz Silver Bullion Coins||0||0||200||4,200||16,400|
|Everglades 5 Oz Silver Bullion Coins||0||N/A||22,000||N/A||22,000|