Gold and silver futures posted gains in their start to the new trading month on Tuesday, with each closing at one-month highs following sharp losses in October.
Gold for December delivery tacked on $14.90, or 1.2%, to settle at $1,288 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Oct. 3.
"The market is reacting to the weaker dollar and general financial uncertainty across the board," Reuters quoted James Steel, chief metals analyst for HSBC Securities in New York. "We have some movement out of risk and into bullion."
Gold futures ranged from a low of $1,276.30 to a high of $1,292. They slipped 0.3% in the previous session, ending with an October loss that totaled 3.3%.
Silver for December delivery surged 62.2 cents, or 3.5%, to close at $18.418 an ounce. Its settlement is also the highest since Oct. 3. Silver futures traded between $17.85 and $18.51. They ended unchanged on Monday, and logged a 7.4% decline in October.
In other metals trading Tuesday:
January platinum gained $19.30, or 2%, to $997.90 an ounce, ranging from $979.10 to $999.20.
- Palladium for December delivery advanced $16.10, or 2.6%, to $634.10 an ounce, trading between $618.90 and $636.85.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Monday PM to Tuesday PM:
- Gold rose $16.45, or 1.3%, to $1,288.45 an ounce.
- Silver added 48 cents, or 2.7%, to $18.24 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 products registered gains of 2,000 ounces in gold coins and 221,500 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 / Nov Sales||Last Week||This Week||Oct Sales||2016 Sales|
|$100 American Eagle 1 Oz Platinum Coins*||–||20,000|
|$50 American Eagle 1 Oz Gold Coins||1,000||17,500||7,500||100,500||666,500|
|$25 American Eagle 1/2 Oz Gold Coins||0||1,000||1,000||8,000||64,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||4,000||0||16,000||132,000|
|$5 American Eagle 1/10 Oz Gold Coins||0||20,000||5,000||75,000||775,000|
|$50 American Buffalo 1 Oz Gold Coins||1,000||3,500||4,000||28,500||178,500|
|$1 American Eagle 1 Oz Silver Coins||220,000||250,000||370,000||3,825,000||34,620,500|
|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||0||200||36,500|
|2016 Theodore Roosevelt 5 Oz Silver Coins||300||500||300||3,100||32,900|