Gold Advances for Fourth Session; US Mint Coin Sales Rise

Gold bullion and nuggets
On Tuesday, gold and platinum futures gained while silver and palladium declined

Gold futures advanced on Tuesday for a fourth straight session and closed at a more than three-week high.

Gold for December delivery added $3.60, or 0.3%, to settle at $1,107.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest price since July 17.

"The near-term technical pictures for both gold and silver markets are improving, which is inviting fresh speculative buying interest and giving the sellers pause for the first time in weeks," Jim Wyckoff, a senior analyst at Kitco Inc, said in a daily note.

Gold prices ranged from a low of $1,093.30 to a high of $1,119.10.

Silver for September delivery shed less than a penny to close at $15.28 an ounce. Silver prices traded between $15.07 and $15.38. They soared on Monday by 47 cents or 3.2%.

In other precious metals dealings on Tuesday:

  • October platinum added $2.50, or 0.3%, to $992.30 an ounce, ranging from $975.20 to $1,002.20.

  • Palladium for September delivery declined $6.95, or 1.2%, to $599.25 an ounce, trading between $597.25 and $621.

London Precious Metals Prices

Earlier fixed London gold and silver prices moved higher. In comparing London bullion prices from Monday PM to Tuesday PM:

  • Gold added $11.25, or 1%, to $1,108.25 an ounce.
  • Silver jumped 43 cents, or 2.9%, to $15.31 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 August

United States Mint bullion products climbed on Tuesday with American Buffalo gold coins gaining 1,000 ounces and American Eagle silver coins rising 209,000 ounces. The U.S. Mint is limiting Silver Eagle sales this week to 1 million coins. That leaves just 72,500 left since 718,500 moved on Monday. Their sales have returned to a record pace with 29,422,500 claimed so far this year. In 2014 when sales ended at a record 44,006,000, the coins by Aug. 11, 2014 reached sales of 27,058,500.

Below is a listing of U.S. Mint bullion products with 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 This Week July Sales August Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 0 4,000 2,000 144,500 6,000 349,000
$25 American Eagle 1/2 Oz Gold Coins 0 0 0 10,000 0 46,000
$10 American Eagle 1/4 Oz Gold Coins 0 2,000 2,000 28,000 4,000 102,000
$5 American Eagle 1/10 Oz Gold Coins 0 5,000 0 135,000 5,000 530,000
$50 American Buffalo 1 Oz Gold Coins 1,000 1,000 1,500 32,000 2,500 131,000
$1 American Eagle 1 Oz Silver Coins 209,000 1,180,000 927,500 5,529,000 2,107,500 29,422,500
2015 Homestead 5 Oz Silver Coins* 35,000
2015 Kisatchie 5 Oz Silver Coins* 42,000
2015 Blue Ridge Parkway 5 Oz Silver Coins* 10,000 45,000


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