Precious metals futures ended mixed, though mostly lower Tuesday. Gold posted its lowest close in a week while silver extended its losing streak to three sessions and registered its weakest settlement in about 1-1/2 weeks.
Gold for December delivery fell $13.70, or 1%, to settle at $1,330.40 an ounce on the Comex division of the New York Mercantile Exchange. The close is the lowest since Sept. 20.
"Unless we get a real drama before next week’s monthly nonfarm [payrolls data] Friday fun, gold remains stuck in this post-Brexit range, capped by the July peak’s downtrend — now at $1,342 — and the last 3 months’ floor at $1,302," MarketWatch quoted Adrian Ash, head of research at BullionVault.
Gold futures ranged from a low of $1,327.70 to a high of $1,343.50. On Monday, they edged up 0.2%.
Elsewhere, silver for December delivery tumbled 43.1 cents, or 2.2%, to close at $19.165 an ounce. The settlement is the lowest since Sept. 16. Silver futures traded from a low of $19.04 to a high of $19.61. They lost 1.1% in the previous session.
In other precious metals futures on Tuesday:
October platinum declined $17.70, or 1.7%, to $1,025.20 an ounce, ranging from $1,022.60 to $1,050.10.
- Palladium for December delivery gained $4.90, or 0.7%, to $701.05 an ounce, trading between $691.60 and $703.35.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Monday PM to Tuesday PM:
- Gold lost $13.50, or 1%, to $1,327 an ounce.
- Silver dipped 2 cents, or 0.1%, to $19.42 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
U.S. Mint bullion products registered gains of 11,500 ounces in American Eagle and Buffalo gold coins and 295,000 ounces in American Silver Eagles. The agency on Tuesday also reduced the five ounce Theodore Roosevelt total by 500 coins to 29,500 coins.
Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold during varying periods Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Tuesday / This Week||Last Week||Aug Sales||Sept Sales||2016 Sales|
|$100 American Eagle 1 Oz Platinum Coins*||0||0||1,000||0||20,000|
|$50 American Eagle 1 Oz Gold Coins||9,500||17,000||50,000||64,500||550,500|
|$25 American Eagle 1/2 Oz Gold Coins||0||0||3,000||4,000||55,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||0||4,000||10,000||110,000|
|$5 American Eagle 1/10 Oz Gold Coins||5,000||15,000||60,000||70,000||685,000|
|$50 American Buffalo 1 Oz Gold Coins||1,500||5,500||9,000||14,500||146,000|
|$1 American Eagle 1 Oz Silver Coins||295,000||255,000||1,280,000||1,600,000||30,500,500|
|2016 Shawnee 5 Oz Silver Coins*||0||0||0||0||105,000|
|2016 Cumberland Gap 5 Oz Silver Coins*||0||0||0||0||75,000|
|2016 Harpers Ferry 5 Oz Silver Coins||0||200||1,900||200||36,300|
|2016 Theodore Roosevelt 5 Oz Silver Coins||-500||0||27,500||2,000||29,500|