Precious metals futures advanced Tuesday after dipping in the prior session. Gains were attributed to the dollar which slipped from a multi-year high.
Gold for December delivery added $1.40, or 0.1%, to close at $1,197.10 an ounce on the Comex division of the New York Mercantile Exchange.
"Dollar weakness is putting some upward momentum on the gold market," Phil Streible, a senior market strategist at R.J. O’Brien & Associates in Chicago, said in a telephone interview according to Bloomberg News.
Gold prices ranged from an intraday low of $1,189 to a high of $1,202.20. They slipped 0.2% on Monday.
In rounding out the precious metals complex:
Silver for December delivery jumped 18 cents, or 1.1%, to $16.55 an ounce, trading between $16.44 and $16.69.
January platinum tacked on $17, or 1.4%, to $1,224.50 an ounce, ranging from $1,203.10 to $1,226.70.
- Palladium for December delivery added $5.50, or 0.7%, to $795.60 an ounce, trading between $790.20 and $799.25.
London Fix Precious Metals
Earlier fixed London precious metals were mixed for a second day in a row. In contrasting London bullion Fix prices from Monday PM to Tuesday PM:
- Gold edged up $1.50, or 0.1%, to $1,199 an ounce,
- Silver advanced 33 cents, or 2%, to $16.66 an ounce,
- Platinum fell $9, or 0.7%, to $1,213 an ounce, and
- Palladium added $2, or 0.3%, to $797 an ounce
US Mint Bullion Coin Sales in November
United States Mint bullion sales on Tuesday included 5,000 ounces in gold coins and 211,500 ounces in silver coins. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold on Tuesday, last week, last month, in November and the year to date. Coins with an asterisk (*) have sold out.
|American Eagle and Buffalo Bullion Sales (# of coins)|
|Tuesday Sales||Last Week||Current Week||October Sales||November Sales||YTD Sales|
|$100 American Platinum Eagle Bullion Coins*||0||0||0||400||0||16,700|
|$50 American Eagle Bullion Gold Coins||3,000||2,500||6,000||57,500||47,500||401,000|
|$25 American Eagle Bullion Gold Coins||0||1,000||0||6,000||5,000||43,000|
|$10 American Eagle Bullion Gold Coins||2,000||2,000||2,000||8,000||12,000||112,000|
|$5 American Eagle Bullion Gold Coins||5,000||0||10,000||50,000||40,000||530,000|
|$50 American Buffalo Bullion Gold Coins||1,000||3,000||1,500||21,000||12,500||173,000|
|$1 American Eagle Silver Bullion Coins||211,500||1,429,500||618,000||5,790,000||3,307,500||41,428,500|
|Great Smoky Mountains National Park 5 Oz Silver Bullion Coins*||0||0||0||0||0||33,000|
|Shenandoah National Park 5 Oz Silver Bullion Coins||0||500||0||900||900||23,300|
|Arches National Park 5 Oz Silver Bullion Coins*||0||0||0||0||0||22,000|
|Great Sand Dunes 5 Oz Silver Bullion Coins||0||1,100||0||4,200||1,700||17,900|
|Everglades 5 Oz Silver Bullion Coins||0||5,000||0||N/A||27,000||27,000|