Gold and silver futures ended lower in their March start on Tuesday while platinum and palladium advanced. Gold’s decline was attributed to contracted, yet better-than-expected U.S. factory data that boosted investors’ appetite for riskier assets.
Gold for April delivery shed $3.60, or 0.3%, to settle at $1,230.80 an ounce on the Comex division of the New York Mercantile Exchange.
"Gold saw some profit-taking pressure set in Tuesday, following recent gains. An improved risk appetite on this day also worked against the safe-haven metal," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
Gold prices ranged from a low of $1,227.70 to a high of $1,249.30. On Monday, they advanced 1.1% to finish 10.6% higher in February — their best monthly gain since January 2012.
Silver for May delivery declined 16.2 cents, or 1.1%, to settle at $14.756 an ounce. Silver prices traded between $14.74 and $15.10. They gained 1.4% in the previous session, ending 4.7% higher in February.
In other precious metals futures on Tuesday:
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April platinum rose $2.40, or 0.3%, to $936.70 an ounce, ranging from $932.80 to $946.70.
- Palladium for June delivery rallied $21.70, or 4.4%, to $517.35 an ounce, trading between $491.25 and $523.25.
London Precious Metals Prices
Earlier fixed London gold and silver prices moved higher. In comparing their levels from Monday PM to Tuesday PM:
- Gold added $1.60, or 0.1%, to $1,236.50 an ounce.
- Silver added 24 cents, or 1.6%, to $14.99 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Sales in 2016
United States Mint bullion sales were unchanged Tuesday following solid gains on Monday and strong results for February. Below is a sales breakdown of United States Mint bullion products with columns listing the number of bullion coins sold during varying periods of time.
| US Mint Bullion Sales (# of coins) | |||||||
|---|---|---|---|---|---|---|---|
| Tuesday Sales | Last Week | This Week | Jan Sales | Feb Sales | Mar Sales | 2016 Sales | |
| $50 American Eagle 1 Oz Gold Coins | 0 | 6,000 | 9,000 | 89,000 | 67,500 | 0 | 156,500 |
| $25 American Eagle 1/2 Oz Gold Coins | 0 | 1,000 | 0 | 23,000 | 6,000 | 0 | 29,000 |
| $10 American Eagle 1/4 Oz Gold Coins | 0 | 2,000 | 2,000 | 36,000 | 12,000 | 0 | 48,000 |
| $5 American Eagle 1/10 Oz Gold Coins | 0 | 25,000 | 25,000 | 145,000 | 100,000 | 0 | 245,000 |
| $50 American Buffalo 1 Oz Gold Coins | 0 | 4,500 | 2,000 | 34,000 | 19,000 | 0 | 53,000 |
| $1 American Eagle 1 Oz Silver Coins | 0 | 1,073,500 | 736,500 | 5,954,500 | 4,782,000 | 0 | 10,736,500 |
| 2016 Shawnee 5 Oz Silver Coins | 0 | 30,000 | 0 | N/A | 105,000 | 0 | 105,000 |
