Gold futures traded lower for a second straight session Tuesday, posting another finish at their lowest level in five weeks.
Gold for August delivery shed $3.20, or 0.3%, to settle at $1,243.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the weakest since May 16. The yellow metal saw pressure from a stronger U.S. dollar, opined analysts.
With a "lack of any major economic data this week, it remains to be seen if the dollar will be able to climb further, and what that would mean for gold," MarketWatch quoted Fawad Razaqzada, technical analyst at Forex.com.
Gold futures ranged from a low of $1,242.40 to a high of $1,249.40. They slipped 0.8% in the previous session.
Ending down for a fourth session in a row, silver for July delivery lost 8.5 cents, or 0.5%, to finish at $16.417 an ounce. The settlement remains the weakest since May 12. Silver futures traded between $16.36 and $16.61. They fell 1% in their start to the week on Monday.
In rounding out precious metals prices:
July platinum declined $5.40, or 0.6%, to $921.50 an ounce, ranging from $919.20 to $929.10.
- Palladium for September delivery added $11.55, or 1.4%, to $867.15 an ounce, marking the best close since September 2014. Prices traded between $852.75 and $869.70.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold declined $5.95, or 0.5%, to $1,242.20 an ounce.
- Silver fell 8 cents, or 0.5%, to $16.59 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 registered gains of 1,000 ounces in gold coins and 102,500 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||Last Week||This Week||May||June||YTD|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||20,000|
|$50 American Eagle 1 Oz Gold Coin||1,000||1,000||2,000||10,000||3,000||140,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||2,000||0||27,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||2,000||0||48,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||0||30,000||10,000||250,000|
|$50 American Buffalo 1 Oz Gold Coin||0||500||0||5,000||1,000||65,000|
|$1 American Eagle 1 Oz Silver Coin||72,000||205,000||272,000||2,455,000||706,000||11,953,500|
|2017 Effigy Mounds 5 Oz Silver Coin||6,100||500||6,300||5,600||8,800||35,000|
|2017 Frederick Douglass 5 Oz Silver Coin||0||0||0||2,400||0||20,000|
|2017 Ozark Riverways 5 Oz Silver Coin||0||2,800||0||N/A/||20,000||20,000|