Precious metals futures closed lower for a second straight day Tuesday, led by silver and followed by gold.
Gold for December delivery declined $16.80, or 1.3%, to settle at $1,286.20 an ounce on the Comex division of the New York Mercantile Exchange. The close is the lowest since Oct. 9.
"A good rebound in the U.S. dollar index today was a bearish outside-market factor. Profit taking by the shorter-term futures traders was also featured," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note. "Pre-placed sell stop orders in the gold and silver futures markets were also triggered today when near-term chart support levels were breached."
Gold futures traded from a low of $1,283.20 to a high of $1,298.40. They dipped 0.1% on Monday.
Silver for December delivery dropped 32.8 cents, or 1.9%, to finish at $17.041 an ounce. The settlement is also the lowest since Oct. 9. Silver futures ranged from $16.98 to $17.28. They shed 0.2% in the previous session.
In rounding out precious metals trading:
January platinum fell $7.30, or 0.8%, to $934.80 an ounce, trading between $929 and $935.60.
- Palladium for December delivery edged down 35 cents, or less 0.1%, to $975.95 an ounce, ranging from $969.40 to $987.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold declined $18.55, or 1.4%, to 1,284.75 an ounce.
- Silver lost 30 cents, or 1.7%, to $17.11 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 by 1,000 ounces in American Gold Eagles. 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)|
|$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||1,000||3,000||8,000||7,500||177,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||1,000||2,000||32,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||2,000||58,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||25,000||20,000||350,000|
|$50 American Buffalo 1 Oz Gold Coin||0||1,000||1,500||3,500||80,000|
|$1 American Eagle 1 Oz Silver Coin||0||150,000||320,000||750,000||16,648,500|
|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|