Gold futures advanced on Tuesday for the first time in seven sessions, bouncing from an almost 5-1/2-month low.
Gold for December delivery climbed $2.80, or 0.2%, to settle at $1,224.50 an ounce on the Comex division of the New York Mercantile Exchange. Gains were mostly attributed to a weaker dollar and bargain hunting.
"Things are a little bit quieter, but the market’s still very jumpy and nervous," Bloomberg News quoted David Govett, head of precious metals trading at Marex Spectron Group Ltd. in London. "I think we have seen enough on the downside for the time being unless the dollar rallies massively."
Gold futures ranged from a low of $1,218.60 to a high of $1,231.40. On Monday, they closed at their lowest level since June 2.
Higher for first time in three sessions, silver for December delivery gained 15 cents, or 0.9%, to close at $17.043 an ounce. Silver futures traded between $16.82 and $17.14. In the previous session, they ended at their lowest price since June 7.
In other precious metals prices Tuesday:
January platinum added $1.10, or 0.1%, to $934.70 an ounce, ranging from $930.20 to $948.70.
- Palladium for December delivery added $8.25, or 1.2%, to $705.95 an ounce, trading between $688.80 and $706.95.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Monday PM to Tuesday PM:
- Gold added $13.35, or 1.1%, to $1,226.95 an ounce.
- Silver dropped 19.5, or 1.1%, to $17 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 posted gains of 29,500 ounces in gold coins and 1,387,000 ounces in silver coins. Totals for both types are already higher than prior weekly gains — by 2,000 ounces in gold coins and by 962,000 ounces in silver coins.
Silver sales include the new issue commemorating Fort Moultrie (Fort Sumter National Monument) in South Carolina, the last of five 2016-dated America the Beautiful Five Ounce Silver Bullion Coins. It registered early sales of 24,800 coins for the slowest start of the five, with:
- the fourth coin honoring Theodore Roosevelt National Park in North Dakota starting with sales of 27,500 (now at 35,200 coins);
- the third coin featuring Harpers Ferry National Historical Park in West Virginia debuting with sales of 33,000 (now at 36,800 coins);
- the second coin depicting Cumberland Gap National Historical in Kentucky opening at 48,000 (which sold out at 75,000 coins); and
- the first coin honoring Shawnee National Forest in Illinois beginning with 41,800 (which sold out at 105,000 coins for the highest total since the Glacier National Park coin from 2011).
Earlier Monday, the U.S. Mint also started selling rolls and bags of Fort Moultrie quarters.
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 / This Week||Last Week||Oct Sales||Nov Sales||2016 Sales|
|$100 American Eagle 1 Oz Platinum Coins*||–||20,000|
|$50 American Eagle 1 Oz Gold Coins||20,500||19,000||100,500||56,000||721,500|
|$25 American Eagle 1/2 Oz Gold Coins||0||1,000||8,000||4,000||68,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||6,000||16,000||10,000||142,000|
|$5 American Eagle 1/10 Oz Gold Coins||20,000||25,000||75,000||50,000||825,000|
|$50 American Buffalo 1 Oz Gold Coins||7,000||4,000||28,500||15,500||193,000|
|$1 American Eagle 1 Oz Silver Coins||1,250,000||425,000||3,825,000||1,895,000||36,295,500|
|2016 Shawnee 5 Oz Silver Coins*||–||105,000|
|2016 Cumberland Gap 5 Oz Silver Coins*||–||75,000|
|2016 Harpers Ferry 5 Oz Silver Coins||300||0||200||300||36,800|
|2016 Theodore Roosevelt 5 Oz Silver Coins||2,300||0||3,100||2,600||35,200|
|2016 Fort Moultrie 5 Oz Silver Coins||24,800||0||3,100||24,800||24,800|