Precious metals futures advanced as a group for a second day in a row Tuesday. Gold extended its winning streak to three sessions, closing at a two-week high.
Gold for December delivery settled up $8.80, or 0.7%, to $1,293.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Sept. 26.
"The weaker dollar has been the main reason why buck-denominated gold has rallied [Tuesday], with the greenback still reeling from Friday’s release of [the] weaker U.S. jobs report," MarketWatch quoted Fawad Razaqzada, technical analyst at Forex.com.
"But technically, I am not yet convinced gold will hold on to its gains as it is still below that key $1,300 inflection point. Only a decisive break above this level would be technically bullish," Razaqzada added.
Gold futures ranged from a low of $1,284.60 to a high of $1,296.70. They gained 0.8% on Monday.
Closing higher for a fourth straight session, silver for December delivery tacked on 23.6 cents, or 1.4%, to end at $17.207 an ounce. The close is the strongest since Sept. 20. Silver futures traded between $16.96 and $17.28. They advanced 1.1% in the previous session.
In rounding out precious metals dealings:
January platinum rose $18.30, or 2%, to $936.50 an ounce, ranging from $918.70 to $937.20.
- Palladium for December delivery added $8.65, or 0.9%, to $936.65 an ounce, trading between $928 and $939.50.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold gained $12.65, or 1%, to 1,291.40 an ounce.
- Silver added 20 cents, or 1.2%, to $17.12 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 climbed a combined 3,500 ounces in gold coins and 150,000 ounces in silver coins. The increases were the first of the week.
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||September||October||YTD|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||20,000|
|$25 American Eagle 1 Oz Palladium Coin*||0||0||15,000||0||15,000|
|$50 American Eagle 1 Oz Gold Coin||2,000||2,500||8,000||4,500||174,500|
|$25 American Eagle 1/2 Oz Gold Coin||1,000||1,000||1,000||2,000||32,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||0||56,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||25,000||5,000||335,000|
|$50 American Buffalo 1 Oz Gold Coin||1,000||1,000||1,500||2,000||78,500|
|$1 American Eagle 1 Oz Silver Coin||150,000||150,000||320,000||300,000||16,198,500|
|2017 Effigy Mounds 5 Oz Silver Coin||0||0||0||0||35,000|
|2017 Frederick Douglass 5 Oz Silver Coin||0||0||0||0||20,000|
|2017 Ozark Riverways 5 Oz Silver Coin||0||0||0||0||20,000|
|2017 Ellis Island 5 Oz Silver Coin*||0||0||0||0||40,000|