Gold, silver and palladium settled higher for a second straight session on Tuesday, supported by a lower U.S. dollar index.
Gold for June delivery rose $6.40, or 0.5%, to close at $1,193.20 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold was firm yesterday and is continuing the trend today, with dollar weakness helping," Reuters quoted Deutsche Borse’s MNI senior analyst Tony Walters.
Gold prices traded from a low of $1,184.90 to a high of $1,199.30. They advanced in the prior session by $12.30, or 1.1%.
Silver for July delivery settled up 14 cents, or 0.8%, to $16.58 an ounce. Silver prices ranged from $16.35 to $16.71. On Monday, the precious metal jumped 31 cents, or 1.9%.
In PGM futures on Tuesday:
July platinum dipped $2.10, or 0.2%, to $1,148.80 an ounce, trading between $1,141.50 and $1,158.
- Palladium for June delivery added $12.30, or 1.6%, to $794.95 an ounce, ranging from $777.75 to $798.
London Precious Metals Prices
London markets closed Monday for May Day holiday. In comparing London metal prices from Friday PM to Tuesday PM:
- Gold gained $21.05, or 1.8%, to $1,197 an ounce,
- Silver advanced a quarter, or 1.6%, to $16.42 an ounce,
- Platinum rose $29, or 2.6%, to $1,156 an ounce, and
- Palladium added $22, or 2.8%, to $794 an ounce.
US Mint Bullion Coin Sales in May
United States Mint bullion sales logged solid gains Tuesday with gold coins up 2,500 ounces and silver coins up 375,000 ounces. This week’s two-day gold sales total 6,000 ounces while silver sales total 834,000 ounces. Another 68,501 ounces in silver coins will make this the strongest silver sales week since the week after the first 2015-dated Silver Eagles launched in January.
The table below offers a listing of U.S. Mint bullion products shows the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Tuesday Sales||Last Week||Current Week||April Sales||May Sales||YTD Sales|
|$50 American Eagle 1 Oz Gold Coins||1,500||11,500||2,500||23,500||2,500||125,000|
|$25 American Eagle 1/2 Oz Gold Coins||0||1,000||0||4,000||0||29,000|
|$10 American Eagle 1/4 Oz Gold Coins||2,000||0||4,000||4,000||4,000||52,000|
|$5 American Eagle 1/10 Oz Gold Coins||0||5,000||10,000||30,000||10,000||275,000|
|$50 American Buffalo 1 Oz Gold Coins||500||2,000||1,500||10,000||1,500||67,500|
|$1 American Eagle 1 Oz Silver Coins||356,500||678,000||783,500||2,851,500||783,500||15,706,000|
|2015 Homestead 5 Oz Silver Coins*||–||35,000|
|2015 Kisatchie 5 Oz Silver Coins||3,700||500||10,100||30,000||10,100||40,100|