Gold and silver edged higher Tuesday as the U.S. dollar showed some weakness and as more investors took advantage of cheaper prices.
Gold for December delivery turned up $3.20, or 0.3%, to $1,163 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold prices ended the U.S. day session moderately higher Tuesday. Short covering and bargain hunting were featured following selling pressure to start the trading week," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A weaker U.S. dollar index Tuesday was also supportive for gold and silver markets. However, world stock markets that continue in rally mode amid better investor risk appetite limited the upside in the precious metals."
Gold prices ranged from a low of $1,145.50 to a high of $1,158.60. They slipped in the prior session by $10, or 0.9%.
Silver for December delivery edged up less than a cent to $15.68 an ounce, trading between $15.45 and $15.72. The precious metal is down on the week by about 4 cents.
In rounding out the precious metals complex:
January platinum shed 20 cents to $1,206.70 an ounce, ranging from $1,191.20 to $1,210.
- Palladium for December delivery gained $6.45, or 0.8%, to $772.70 an ounce, trading between $755 and $774.75.
London Fix Precious Metals
Earlier fixed London precious metals declined. In contrasting London bullion Fix prices from Monday PM to Tuesday PM:
- Gold dipped $5.50, or 0.5%, to $1,156.50 an ounce,
- Silver fell a dime, or 0.6%, to $15.57 an ounce,
- Platinum lost $14, or 1.2%, to $1,195 an ounce, and
- Palladium declined $7, or 0.9%, to $765 an ounce
US Mint Bullion Coin Sales in November
United States Mint bullion coin sales were unchanged Tuesday as of 3:25 p.m. ET. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold last week, last month, in November and the year to date.
|American Eagle and Buffalo Bullion Sales (# of coins)|
|Tuesday Sales||Last Week||October Sales||November Sales||YTD Sales|
|$100 American Platinum Eagle Bullion Coins||N/A||400||N/A*||16,700|
|$50 American Eagle Bullion Gold Coins||0||29,000||57,500||30,000||383,500|
|$25 American Eagle Bullion Gold Coins||0||2,000||6,000||2,000||40,000|
|$10 American Eagle Bullion Gold Coins||0||4,000||8,000||8,000||108,000|
|$5 American Eagle Bullion Gold Coins||0||15,000||50,000||30,000||520,000|
|$50 American Buffalo Bullion Gold Coins||0||6,000||21,000||6,500||167,000|
|$1 American Eagle Silver Bullion Coins||0**||1,260,000||5,790,000||1,260,000||39,381,000|
|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||400||900||400||22,800|
|Arches National Park 5 Oz Silver Bullion Coins||0||0||0||0||22,000|
|Great Sand Dunes 5 Oz Silver Bullion Coins||0||600||4,200||600||16,800|
|Everglades 5 Oz Silver Bullion Coins||0||22,000||N/A||22,000||22,000|
*The U.S. Mint stopped selling bullion Platinum Eagles on Oct. 1. The agency will begin selling 2015-dated issues in early January.
**Sales of the Mint’s most popular bullion coin, the American Silver Eagle, have been on hold since Nov. 5. The agency will resume Silver Eagle sales on Nov. 17.