Gold closed lower for a fourth session in a row on Tuesday, giving up a combined $10 since last ending higher on Wednesday.
Gold for August delivery settled down $1.90, or 0.2%, to $1,153.50 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold is approaching critical support around $1,150 and our expectation in the medium term is that gold is heading even lower," MarketWatch quoted Mike Armbruster, principal and co-founder at Altavest. "Fundamental arguments for a longer-term bull market in gold are strong, but now is not the time to be overweight gold. Gold bugs need to be patient."
Gold prices traded from a low of $1,151.80 to a high of $1,159.10. Like today, they slipped on Monday by 0.2%.
Silver for September delivery dropped 14 cents, or 0.9%, to settle at $15.32 an ounce. Silver prices ranged from $15.24 to $15.48. The daily loss is a second in a row and follows three straight session gains.
In PGM futures on Tuesday:
October platinum shed $7.60, or 0.7%, to $1,028.40 an ounce, trading between $1,026 and $1,036.80.
- Palladium for September fell $1.85, or 0.3%, to $657.10 an ounce, ranging from $651.50 to $665.30.
London Precious Metals Prices
London gold and silver prices were divided. In comparing London bullion prices from Monday PM to Tuesday PM:
- Gold added $3.40, or 0.3%, to $1,157.40 an ounce, and
- Silver declined 17 cents, or 1.1%, to $15.28 an ounce.
LBMA platinum and palladium prices are displayed on the LBMA’s website with a delay of midnight after the setting of the prices each day.
US Mint Bullion Coin Sales in July
Sales of United States Mint bullion coins remained unchanged Tuesday after all available product types advanced on Monday.
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. Those with a double asterisk (**) are temporarily unavailable.
|US Mint Bullion Sales (# of coins)|
|Tuesday Sales||Last Week||This Week||June Sales||July Sales||YTD Sales|
|$50 American Eagle 1 Oz Gold Coins||0||47,000||3,500||62,500||59,500||258,000|
|$25 American Eagle 1/2 Oz Gold Coins||0||1,000||1,000||4,000||3,000||39,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||8,000||2,000||12,000||14,000||84,000|
|$5 American Eagle 1/10 Oz Gold Coins||0||50,000||10,000||85,000||65,000||455,000|
|$50 American Buffalo 1 Oz Gold Coins||0||5,500||1,000||21,000||9,000||105,500|
|$1 American Eagle 1 Oz Silver Coins**||0||1,927,000||0||4,840,000||2,709,000||24,495,000|
|2015 Homestead 5 Oz Silver Coins*||–||35,000|
|2015 Kisatchie 5 Oz Silver Coins*||–||42,000|
|2015 Blue Ridge Parkway 5 Oz Silver Coins||0||–||5,700||35,000||5,700||40,700|