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|