Precious metals futures were mixed, though mostly higher Tuesday. Gold and silver extended their gains to four straight sessions. Gold logged yet another finish at a near 3-week high while silver moved just ahead of a 2-week high.
Gold for April delivery gained $12.50, or 1%, to settle at $1,246.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since March 1 when prices ended at $1,250 an ounce.
"We’re back down below 100 on the dollar index, and that is tied in with the less aggressive rate hike expectations that we heard last week from the Fed," Reuters quoted Mistubishi analyst Jonathan Butler. "The fact that we’re now at a six-week low in the dollar is obviously feeding into some of the strength in gold."
Gold futures ranged from a low of $1,226.60 to a high of $1,235.20. They advanced 0.3% on Monday.
Elsewhere, silver for May delivery tacked on 14.5 cents, or 0.8%, to settle at $17.583 an ounce. The close is the strongest since March 6. Silver futures traded between $17.34 and $17.50. In the previous session, they edged up 0.1%.
In other precious metals futures Tuesday:
April platinum dipped $1, or 0.1%, to $971.40 an ounce, ranging from $960.10 to $977.
- Palladium for June delivery gained $6, or 0.8%, to $787.65 an ounce, trading between $777.40 and $793.80.
London Precious Metals Prices
In comparing earlier fixed London bullion prices from Monday PM to Tuesday PM:
- Gold rose $9.20, or 0.8%, to $1,241.60 an ounce.
- Silver added 8 cents, or 0.5%, to $17.31 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 2017
U.S. Mint bullion products registered advances of 1,000 ounces in American Eagle and Buffalo gold coins and 50,000 ounces in American Silver Eagles. Silver Eagle sales are already the highest for a week since the one ended Jan. 20.
Below is a sales breakdown of U.S. bullion products with columns listing the number of 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||Feb Sales||Mar Sales||2017 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||20,000|
|$50 American Eagle 1 Oz Gold Coin||500||2,500||4,500||21,000||10,500||118,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||0||5,000||1,000||25,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||0||4,000||2,000||42,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||20,000||5,000||30,000||35,000||190,000|
|$50 American Buffalo 1 Oz Gold Coin||500||2,500||2,000||15,000||5,000||52,000|
|$1 American Eagle 1 Oz Silver Coin||50,000||220,000||765,000||1,215,000||1,265,000||7,607,500|
|2017 Effigy Mounds 5 Oz Silver Coin||0||0||0||19,500||0||19,500|
|2016 Shawnee 5 Oz Silver Coins*||–|
|2016 Cumberland Gap 5 Oz Silver Coin*||–|
|2016 Harpers Ferry 5 Oz Silver Coin||0||0||0||0||0||0|
|2016 Theodore Roosevelt 5 Oz Silver Coin*||–|
|2016 Fort Moultrie 5 Oz Silver Coin||0||0||0||0||0||0|