Precious metals futures were mixed Tuesday following two straight session gains before the U.S. Memorial Day holiday. Gold slipped from a 1-month high while silver advanced to a 5-week high.
Gold for August delivery declined $5.70, or 0.4%, to settle at $1,265.70 an ounce on the Comex division of the New York Mercantile Exchange.
"I expect the dollar to continue to strengthen this week until Friday’s jobs data release, therefore I think gold is going to go down from here," Reuters quoted Forex.com market analyst Fawad Razaqzada.
Gold futures ranged from a low of $1,261.80 to a high of $1,273.40. They climbed 1.2% last week, for their third straight weekly gain, and closed at their best price since April 28.
Meanwhile, silver for July delivery gained 10.4 cents, or 0.6%, to end at $17.427 an ounce. The settlement is the highest since April 25. Silver futures traded between $17.20 and $17.46. They surged last week by 3.1%.
In other precious metals futures on Tuesday:
July platinum dropped $21.80, or 2.3%, to close at $941.10 an ounce, ranging from $939.80 to $964.80.
- Palladium for June delivery gained $15.95, or 2%, to settle at $802.65 an ounce, trading between $788.45 and $804.80.
Last week, the two metals posted increases of 2.4% and 3.4%.
London Precious Metals Prices
UK markets were closed Monday for Spring Bank holiday. In comparing earlier fixed London gold and silver prices from Friday PM to Tuesday PM:
- Gold shed $2.35, or 0.2%, to $1,262.70 an ounce.
- Silver dipped 2 cents, or 0.1%, to $17.27 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
Last week, London metal prices advanced by 1% for gold, 3.1% for silver, 1.9% for platinum and 1.3% for palladium.
US Mint Bullion Sales in 2017
U.S. Mint bullion products logged increases of 1,000 ounces in gold coins and 200,100 ounces in silver coins. 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 / This Week||Last Week||April Sales||May Sales||2017 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||20,000|
|$50 American Eagle 1 Oz Gold Coin||500||3,500||3,500||10,000||137,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||0||2,000||27,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||2,000||48,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||10,000||20,000||30,000||240,000|
|$50 American Buffalo 1 Oz Gold Coin||500||0||3,500||5,000||64,000|
|$1 American Eagle 1 Oz Silver Coin||200,000||595,000||835,000||2,355,000||11,147,500|
|2017 Effigy Mounds 5 Oz Silver Coin||100||4,600||900||5,600||26,200|
|2017 Frederick Douglass 5 Oz Silver Coin||0||0||17,600||2,400||20,000|
This article was edited to include updated U.S. Mint bullion figures.