Pressured by a rebounding U.S. dollar, gold futures on Tuesday edged lower and silver futures plunged.
Gold for December delivery dipped $1.50, or 0.1%, to close at $1,116.90 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold will keep reacting to the U.S. data, and today’s housing numbers gave a boost to the dollar and pushed gold down," Miguel Perez-Santalla, a sales and marketing manager at Heraeus Metals New York LLC, said in a telephone interview reported on Bloomberg News. "Gold will remain under pressure because concerns about a September hike remain."
Gold prices ranged from a low of $1,113.20 to a high of $1,120.40. They climbed in the prior session by $5.70 or 0.5%.
Silver for September delivery tumbled 51 cents, or 3.3%, to settle at $14.79 an ounce. Silver prices traded between $14.84 and $15.33. They advanced on Monday by 0.6% after soaring last week by 2.6%.
In rounding out the precious metals futures complex:
-
October platinum settled down $6.60, or 0.7%, to $994.10 an ounce, ranging from $981 to $1,001.50.
- Palladium for September delivery lost $16.80, or 2.7%, to $597 an ounce, trading between $589.20 and $614.40.
London Precious Metals Prices
Earlier fixed London gold and silver prices ended flat to unchanged. In comparing London bullion prices from Monday PM to Tuesday PM:
- Gold declined $7.35, or 0.7%, to $1,111.45 an ounce.
- Silver was unchanged at $15.23 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 sales were unchanged as of 3:20 PM EST. 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 | 7,500 | 2,500 | 144,500 | 14,000 | 357,000 |
| $25 American Eagle 1/2 Oz Gold Coins | 0 | 1,000 | 1,000 | 10,000 | 2,000 | 48,000 |
| $10 American Eagle 1/4 Oz Gold Coins | 0 | 4,000 | 0 | 28,000 | 6,000 | 104,000 |
| $5 American Eagle 1/10 Oz Gold Coins | 0 | 15,000 | 10,000 | 135,000 | 30,000 | 555,000 |
| $50 American Buffalo 1 Oz Gold Coins | 0 | 3,000 | 0 | 32,000 | 4,000 | 132,500 |
| $1 American Eagle 1 Oz Silver Coins | 0 | 1,000,000 | 852,500 | 5,529,000 | 3,032,500 | 30,347,500 |
| 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 | ||
