Gold futures ended lower on Tuesday for the first time in three sessions, easing from a nearly two-year high as investors booked profits. Silver, meanwhile, scored its best close in 17 months.
Gold for August delivery declined $6.80, or 0.5%, to settle at $1,317.90 an ounce on the Comex division of the New York Mercantile Exchange.
"Given the rapid rise in gold prices from the Brexit results of around $80 per ounce, some profit taking is a positive signal for a longer-term bullish trend in gold prices," MarketWatch quoted Anthem Blanchard, chief executive officer of Anthem Vault.
Gold futures ranged from a low of $1,308.20 to a high of $1,329.50. They moved up on Monday by 0.2% and posted their highest settlement since July 11, 2014.
Advancing for the fifth time in six sessions, silver for July delivery gained 9.9 cents, or 0.6%, to close at $17.843 an ounce. The settlement was the highest since Jan. 28, 2015 when prices ended at $18.09 an ounce. Silver futures traded between $17.55 and $17.88. They slipped 0.3% in the previous session.
In PGM futures on Tuesday:
October platinum declined a dime to $980.60 an ounce, ranging from $973.90 to $986.
- Palladium for September delivery surged $12.55, or 2.3%, to $569.95 an ounce, trading between $554.20 and $571.85.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold fell $14.85, or 1.1%, to $1,309.70 an ounce.
- Silver declined 13 cents, or 0.7%, to $17.57 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Coin Sales in 2016
United States Mint bullion sales registered gains of 3,000 ounces in American Gold Eagles and 511,000 ounces in American Silver Eagles.
The U.S. Mint is limiting this week’s sales of American Silver Eagles to 2,837,500 coins. Bullion distributors ordered 22.4% of them through Tuesday. 2016 Silver Eagles are running at a record pace with sales of 25,948,500 coins, marking a 19.1% increase over those sold through same time in record-breaking year 2015.
Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold during varying periods of time.
|US Mint Bullion Sales (# of coins)|
|Tuesday||Monday||Last Week||This Week||Apr Sales||May Sale||June Sales||2016 Sales|
|$50 American Eagle 1 Oz Gold Coins||2,500||4,500||13,500||7,000||93,500||64,500||56,500||400,000|
|$25 American Eagle 1/2 Oz Gold Coins||0||0||2,000||0||6,000||7,000||3,000||46,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||0||6,000||0||14,000||10,000||10,000||86,000|
|$5 American Eagle 1/10 Oz Gold Coins||5,000||0||20,000||5,000||55,000||60,000||60,000||495,000|
|$50 American Buffalo 1 Oz Gold Coins||0||1,500||3,000||1,500||19,500||18,500||13,500||111,500|
|$1 American Eagle 1 Oz Silver Coins||511,000||125,000||517,000||636,000||4,072,000||4,498,500||2,535,500||25,948,500|
|2016 Shawnee 5 Oz Silver Coins||0||0||0||0||0||0||0||105,000|
|2016 Cumberland Gap 5 Oz Silver Coins||0||0||0||0||64,000||11,000||0||75,000|
|2016 Harpers Ferry 5 Oz Silver Coins||0||0||0||0||64,000||11,000||34,200||34,200|