Gold and silver futures moved ahead on Tuesday for their sixth set of gains in seven sessions. Both closed near a three-week high.
Gold for August delivery advanced $8.20, or 0.7%, to settle at $1,241.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the strongest since June 30.
"A solidly lower U.S. dollar index that hit a 10-month low is supporting the precious metals markets," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A major defeat for U.S. President Trump on health care reform also helped out the safe-haven gold market today."
Gold futures ranged from a low of $1,232.20 to a high of $1,243.90. They climbed 0.5% in their star to the week on Monday.
Silver for September delivery moved up 16.9 cents, or 1.1%, to settle at $16.268 an ounce. The close is also the strongest since June 30. Silver futures traded between $16.06 and $16.31. They advanced 1% on Monday.
In other metals futures prices on Tuesday:
October platinum was unchanged at $930.30 an ounce, ranging from $924.80 to $934.40.
- Palladium for September declined $1.15, or 0.1%, to $864.40 an ounce, trading between $860.30 and $868.30.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold rose $6.65, or 0.5%, to 1,240.70 an ounce.
- Silver gained a dime, or 0.6%, to $16.17 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 increases of 2,000 ounces in gold coins and 375,000 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||June||July||YTD|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||20,000|
|$50 American Eagle 1 Oz Gold Coin||1,000||5,500||3,000||4,000||10,000||151,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||0||0||27,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||0||4,000||52,000|
|$5 American Eagle 1/10 Oz Gold Coin||5,000||10,000||5,000||20,000||30,000||290,000|
|$50 American Buffalo 1 Oz Gold Coin||500||1,500||500||2,000||3,000||69,000|
|$1 American Eagle 1 Oz Silver Coin||375,000||970,000||585,000||986,000||1,875,000||14,108,500|
|2017 Effigy Mounds 5 Oz Silver Coin||0||0||0||8,800||0||35,000|
|2017 Frederick Douglass 5 Oz Silver Coin||0||0||0||0||0||20,000|
|2017 Ozark Riverways 5 Oz Silver Coin||0||0||0||20,000||0||20,000|