Precious metals were mixed yet again Tuesday with all but palladium falling. Gold and silver futures logged about 5-month lows.
Gold for February delivery declined $5.20, or 0.4%, to settle at $1,241.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the lowest since July 17 when prices ended at $1,233.70 an ounce.
"Bearish ‘outside market’ forces worked against the precious metals markets on this day, as the U.S. dollar index was higher and crude oil prices were lower," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily bullion report. "Many traders are on the sidelines ahead of the Federal Reserve’s Open Market Committee (FOMC) statement Wednesday afternoon."
Gold futures traded from a low of $1,238.30 to a high of $1,247.90. They dipped 0.1% on Monday.
Ending lower for the ninth time in ten sessions, silver for March delivery fell 11.7 cents, or 0.7%, to finish at $15.668 an ounce. The close is the weakest since July 10 when prices ended at $15.629 an ounce. Silver futures ranged from $15.63 to $15.83. They shed 0.2% in their start to the week on Monday.
In rounding out precious metals action:
January platinum dropped $17.10, or 1.9%, to $875.70 an ounce, trading between $873.10 and $891.
- Palladium for March delivery rose $3.60, or 0.4%, to $1,002.35 an ounce, ranging from $991.60 to $1,003.50.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold declined $6.25, or 0.5%, to 1,240.90 an ounce.
- Silver fell 5.5 cents, or 0.4%, to $15.78 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 advanced by 7,000 ounces in American Gold Eagles and by 2,000 ounces in American Gold Buffalos.
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||November||December||YTD|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||20,000|
|$25 American Eagle 1 Oz Palladium Coin*||0||0||0||0||0||15,000|
|$50 American Eagle 1 Oz Gold Coin||7,000||0||28,000||9,500||28,000||218,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||3,000||2,000||3,000||37,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||4,000||2,000||4,000||64,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||10,000||15,000||10,000||25,000||395,000|
|$50 American Buffalo 1 Oz Gold Coin||2,000||1,000||10,500||2,000||11,500||97,000|
|$1 American Eagle 1 Oz Silver Coin||0||120,000||622,000||385,000||742,000||18,065,500|
|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||0||0||40,000|
|2017 George Rogers Clark 5 Oz Silver Coin||0||0||0||32,400||0||32,400|