Most precious metals traded lower Tuesday, reversing course from their start to the week on Monday. Gold gave back a good portion of the prior day’s gains while silver closed at a six-week low.
Gold for December delivery declined $9.80, or 0.8%, to settle at $1,301.70 an ounce on the Comex division of the New York Mercantile Exchange.
"A little recovery in (U.S. Treasury) yields, along with a stronger dollar has pressured gold. And the risk-averse trading from yesterday is easing off," Reuters quoted James Steel, chief metals analyst at HSBC Securities in New York.
Gold futures traded from a low of $1,296.60 to a high of $1,317.10. They advanced 1.1% on Monday.
Silver for December delivery dropped 26.4 cents, or 1.5%, to settle at $16.883 an ounce. The settlement is the weakest since Aug. 15 when prices closed at $16.714 an ounce. Silver futures ranged between $16.81 and $17.30. They rose 1% in their start to the week on Monday.
In other precious metals futures:
October platinum fell $15.50, or 1.7%, to $924.70 an ounce, trading between $923 and $945.90.
- Palladium for December delivery settled up $4.75, or 0.5%, to $914.45 an ounce, ranging from $907.65 to $917.65.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold added $6.75, or 0.5%, to 1,300.05 an ounce.
- Silver added 6 cents, or 0.4%, to $17.01 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
United States Mint bullion sales were unchanged. 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||August||September||YTD|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||20,000|
|$25 American Eagle 1 Oz Palladium Coin||0||N/A||15,000||N/A||15,000||15,000|
|$50 American Eagle 1 Oz Gold Coin||0||2,000||2,000||6,500||8,000||170,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||1,000||2,000||1,000||30,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||0||2,000||2,000||56,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||5,000||15,000||25,000||330,000|
|$50 American Buffalo 1 Oz Gold Coin||0||1,500||0||3,000||1,500||76,500|
|$1 American Eagle 1 Oz Silver Coin||0||50,000||195,000||1,025,000||320,000||15,898,500|
|2017 Effigy Mounds 5 Oz Silver Coin||0||0||0||0||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||0||0||20,000|
|2017 Ellis Island 5 Oz Silver Coin*||0||0||0||40,000||0||40,000|