Most precious metals bounced for slight gains on Tuesday following equally modest losses on Monday.
Gold for August delivery moved up $5.70, or 0.5%, to settle at $1,194.40 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold prices ended the U.S. day session firmer Tuesday on a short-covering and bargain-hunting bounce from recent selling pressure," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Also, the U.S. dollar index was sharply lower Tuesday, which worked in favor of the precious metals and the raw commodity sector bulls."
Gold prices traded from a low of $1,185.80 to a high of $1,196.40. They shed $1.10, or less than 0.1%, in the prior session.
Silver for July delivery tacked on 12 cents, or 0.7%, to close at $16.80 an ounce. Silver prices ranged from a low of $16.61 to a high of $16.84. They slipped on Monday by 2 cents, or 0.1%.
In PGM futures on Tuesday:
July platinum rose $8.60, or 0.8%, to $1,112.80 an ounce, trading between $1,101.10 and $1,114.80.
- Palladium for September delivery declined $4.20, or 0.5%, to $768.55 an ounce, ranging from $765 to $776.85.
London Precious Metals Prices
Earlier fixed London precious metals prices were mixed to flat. In comparing London bullion prices from Monday PM to Tuesday PM:
- Gold declined $7.10, or 0.6%, to $1,192.80 an ounce,
- Silver added 9 cents, or 0.5%, to $16.70 an ounce,
- Platinum fell $4, or 0.4%, $1,105 an ounce, and
- Palladium was unchanged at $773 an ounce.
US Mint Bullion Coin Sales in June
United States Mint bullion sales padded prior-day gains with increases of 2,500 ounces in gold coins and 375,000 ounces in silver coins. This week’s two-day sales of American Silver Eagles have more than doubled sales from last week.
Below is a listing of U.S. Mint bullion products that shows the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Tuesday||Last Week||This Week/June||May Sales||YTD Sales|
|$50 American Eagle 1 Oz Gold Coins||1,500||4,000||1,500||13,500||137,500|
|$25 American Eagle 1/2 Oz Gold Coins||0||1,000||0||3,000||32,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||4,000||0||10,000||58,000|
|$5 American Eagle 1/10 Oz Gold Coins||5,000||10,000||10,000||40,000||315,000|
|$50 American Buffalo 1 Oz Gold Coins||500||2,500||1,000||9,500||76,500|
|$1 American Eagle 1 Oz Silver Coins||375,000||375,000||775,000||2,023,500||17,721,000|
|2015 Homestead 5 Oz Silver Coins*||–||35,000|
|2015 Kisatchie 5 Oz Silver Coins*||–||12,000||42,000|