Gold futures moved lower Tuesday, posting their seventh loss in eight sessions as the U.S. dollar advanced.
Gold for December delivery shed $4.50, or 0.4%, to settle at $1,255.90 an ounce on the Comex division of the New York Mercantile Exchange.
"The key ‘outside markets’ were in a bearish daily posture for the precious metals, as the U.S. dollar index was solidly higher and crude oil prices were lower," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
Gold futures ranged from a low of $1,254.30 to a high of $1,264. On Monday, they climbed 0.7%.
Lower for the first time in three sessions, silver for December delivery lost 15 cents, or 0.9%, to settle at $17.509 an ounce. Silver futures traded between $17.46 and $17.86. They advanced 1.6% in the previous session.
In other precious metals futures:
January platinum declined $15.60, or 1.6%, to $949.80 an ounce, ranging from $947.80 to $974.
- Palladium for December delivery sank $20.40, or 3.1%, to $648.15 an ounce, trading between $647.40 and $672.50.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Monday PM to Tuesday PM:
- Gold declined $6.05, or 0.5%, to $1,253.45 an ounce.
- Silver shed 30 cents, or 1.7%, to $17.48 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 their first gains this week with advances of 6,500 ounces in gold coins and 547,500 ounces in silver 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||Sept Sales||Oct Sales||2016 Sales|
|$100 American Eagle 1 Oz Platinum Coins*||–||20,000|
|$50 American Eagle 1 Oz Gold Coins||5,500||42,000||79,000||47,500||612,500|
|$25 American Eagle 1/2 Oz Gold Coins||2,000||1,000||5,000||3,000||59,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||6,000||16,000||6,000||122,000|
|$5 American Eagle 1/10 Oz Gold Coins||0||15,000||85,000||15,000||715,000|
|$50 American Buffalo 1 Oz Gold Coins||0||8,000||17,500||8,000||157,000|
|$1 American Eagle 1 Oz Silver Coins||545,000||1,405,000||1,675,000||1,950,000||32,525,500|
|2016 Shawnee 5 Oz Silver Coins*||–||105,000|
|2016 Cumberland Gap 5 Oz Silver Coins*||–||75,000|
|2016 Harpers Ferry 5 Oz Silver Coins||0||0||200||0||36,300|
|2016 Theodore Roosevelt 5 Oz Silver Coins||500||1,000||2,000||1,500||31,000|