Precious metals futures advanced for a third straight session Tuesday. Gold gained the most, closing at its best price in seven months.
Gold for August delivery tacked on $14.80, or 1.2%, to finish at $1,297.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Nov. 4.
"Bullish charts, a weak U.S. dollar and safe-haven demand are all working in favor of the gold market bulls, at present," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
"There is some risk aversion in the marketplace this week, ahead of potentially markets-moving happenings later this week. Such is benefiting safe-haven gold, as well as U.S. Treasuries and the Japanese yen," Wyckoff added.
Gold futures ranged from a low of $1,282.10 to a high of $1,298.80. They climbed 0.2% in the previous session.
Elsewhere, silver for July delivery settled up 12.9 cents, or 0.7%, to $17.71 an ounce. The settlement is the strongest since April 24. Silver futures traded between $17.51 and $17.75. They rose 0.3% in their start to the week on Monday.
In other precious metals futures on Tuesday:
-
July platinum added $5.70, or 0.6%, to $963.30 an ounce, ranging from $953.30 to $969.50.
- Palladium for September delivery gained $6.55, or 0.8%, to $848.40 an ounce, trading between $837.30 and $853.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold bounced $13.55, or 1.1%, to $1,293.50 an ounce.
- Silver added 4 cents, or 0.2%, to $17.56 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint Bullion Sales in 2017
U.S. Mint bullion sales were unchanged as of 4:21 p.m. ET. 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 | Last Week | This Week / June | May | YTD | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 20,000 |
| $50 American Eagle 1 Oz Gold Coin | 0 | 500 | 0 | 10,000 | 137,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 0 | 2,000 | 27,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 2,000 | 48,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 5,000 | 30,000 | 245,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 500 | 500 | 5,000 | 64,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 300,000 | 229,000 | 2,455,000 | 11,476,500 |
| 2017 Effigy Mounds 5 Oz Silver Coin | 0 | 100 | 2,000 | 5,600 | 28,200 |
| 2017 Frederick Douglass 5 Oz Silver Coin | 0 | 0 | 0 | 2,400 | 20,000 |
| 2017 Ozark Riverways 5 Oz Silver Coin | 0 | N/A | 17,200 | N/A/ | 17,200 |
