Gold futures closed to a one-week high in their start to the new trading month on Tuesday as safe-haven demand climbed on the back of another day of sharp losses in U.S. stocks.
Gold for December delivery rose $7.30, or 0.6%, to settle at $1,139.80 an ounce on the Comex division of the New York Mercantile Exchange. The close was the highest since Monday, Aug. 24.
"There’s a bit of new buying, as we’re attracting some haven seekers," George Gero, a vice president of global futures at RBC Capital Markets in New York, said in a telephone interview according to Bloomberg News. "It’s starting to attract some attention because of the severe downdraft of stocks."
The yellow metal traded from a low of $1,133.80 to a high of $1,147.30. On Monday, gold prices slipped 0.1%, trimming gains in August to 3.4%.
Silver futures advanced for a fourth straight session with the December contract up 3 cents, or 0.2%, to close at $14.62 an ounce. Silver prices ranged from a low of $14.51 to a high of $14.76. In August, they declined by 1.1%.
In PGM futures on Tuesday:
October platinum dipped $2.10, or 0.2%, to $1,008.40 an ounce, trading between $1,000.10 and $1,017.40.
- Palladium for December delivery dived $23.05, or 3.8%, to $579.20 an ounce, ranging from $576.35 to $599.50.
London Precious Metals Prices
Markets in the U.K. closed on Monday for a holiday. In comparing London gold and silver prices from Friday PM to Tuesday PM:
- Gold added $7.30, or 0.6%, to $1,142.30 an ounce.
- Silver gained 24 cents, or 1.7%, to $14.68 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 September
United States Mint bullion sales were unchanged Tuesday as of 4:04 p.m. ET. Sales rallied in August.
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 / Sept Sales||Last Week||This Week||August Sales||YTD Sales|
|$50 American Eagle 1 Oz Gold Coins||0||47,500||9,000||78,500||421,500|
|$25 American Eagle 1/2 Oz Gold Coins||0||4,000||1,000||8,000||54,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||12,000||6,000||24,000||122,000|
|$5 American Eagle 1/10 Oz Gold Coins||0||40,000||35,000||130,000||655,000|
|$50 American Buffalo 1 Oz Gold Coins||0||12,000||2,500||20,000||148,500|
|$1 American Eagle 1 Oz Silver Coins||0||812,500||755,000||4,935,000||32,250,000|
|2015 Homestead 5 Oz Silver Coins*||–||35,000|
|2015 Kisatchie 5 Oz Silver Coins*||–||42,000|
|2015 Blue Ridge Parkway 5 Oz Silver Coins*||–||45,000|