Precious metals futures advanced Tuesday. Gains for gold were again modest but enough to drive prices near a two-week high.
Gold for December delivery settled up $6.30, or 0.5%, to $1,262.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Wednesday, Oct. 5.
"Short covering in the futures market and perceived value-buying in the cash market were featured today," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
"Slightly higher crude oil prices Tuesday were also mildly bullish the raw commodity sector in general, including precious metals," Wyckoff added.
Gold futures ranged from a low of $1,255.90 to a high of $1,265.60. In the previous session, they edged up less than 0.1%.
Higher for a second day in a row after falling for four straight, silver for December advanced 16.4 cents, or 0.9%, to $17.638 an ounce. Silver futures traded between $17.45 and $17.73. They rose 0.2% on Monday.
In rounding out metals trading Tuesday:
-
January platinum added $10.30, or 1.1%, to $946.50 an ounce, ranging from $938 and $954.
- Palladium for December delivery moved up $1.60, or 0.3%, to $639.40 an ounce, trading between $636.65 and $647.80.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Monday PM to Tuesday PM:
- Gold gained $3.40, or 0.3%, to $1,258.20 an ounce.
- Silver added 25 cents, or 1.4%, to $17.65 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 13,000 ounces in gold coins and 1,000 ounces in silver coins. Below is a sales breakdown of U.S. Mint bullion coins 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 Sales | Last Week | This Week | Sept Sales | Oct Sales | 2016 Sales | |
| $100 American Eagle 1 Oz Platinum Coins* | – | 20,000 | ||||
| $50 American Eagle 1 Oz Gold Coins | 7,500 | 15,500 | 16,000 | 79,000 | 73,500 | 638,500 |
| $25 American Eagle 1/2 Oz Gold Coins | 1,000 | 3,000 | 2,000 | 5,000 | 6,000 | 62,000 |
| $10 American Eagle 1/4 Oz Gold Coins | 0 | 2,000 | 2,000 | 16,000 | 10,000 | 126,000 |
| $5 American Eagle 1/10 Oz Gold Coins | 0 | 25,000 | 10,000 | 85,000 | 50,000 | 750,000 |
| $50 American Buffalo 1 Oz Gold Coins | 5,000 | 4,000 | 7,000 | 17,500 | 19,000 | 168,000 |
| $1 American Eagle 1 Oz Silver Coins | 0 | 695,000 | 675,000 | 1,675,000 | 2,775,000 | 33,350,500 |
| 2016 Shawnee 5 Oz Silver Coins* | – | 105,000 | ||||
| 2016 Cumberland Gap 5 Oz Silver Coins* | – | 75,000 | ||||
| 2016 Harpers Ferry 5 Oz Silver Coins | 200 | 0 | 200 | 200 | 200 | 36,500 |
| 2016 Theodore Roosevelt 5 Oz Silver Coins | 0 | 800 | 800 | 2,000 | 2,600 | 32,100 |
