Precious metals futures climbed Tuesday in their start to the holiday-shortened trading week. Markets closed Monday for Christmas. Gold and silver logged four-week highs.
Gold for February delivery advanced $8.70, or 0.7%, to settle at $1,287.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Nov. 28 when prices finished at $1,294.90 an ounce.
"Early advances were extended and the metals closed near their daily highs as the key ‘outside markets" turned bullish on the day," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The U.S. dollar index turned weaker during the U.S. session and crude oil prices posted solid gains and hit a 2.5-year high."
Gold futures ranged from a low of $1,277.70 to a high of $1,288.40. They gained 1.7% last week.
Silver for March delivery rose 16 cents, or 1%, to close at $16.604 an ounce. The settlement is also the highest since Nov. 28. Silver futures traded between $16.36 and $16.64. They jumped 2.4% last week.
In other precious metals futures on Tuesday:
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January platinum edged up 50 cents, or less than 0.1%, to $923.50 an ounce, ranging from $916.80 to $925.50.
- Palladium for March delivery tacked on $12.90, or 1.3%, to $1,042.45 an ounce, trading between $1,027.60 and $1,046.50. The close is the strongest since February 2001.
Last week, platinum surged 3.8% and palladium climbed 1.4%.
London Precious Metals Prices
London markets have been closed since Friday. Metal prices then were:
- Gold at $ 1,268.05 an ounce.
- Silver at $16.175 an ounce.
- Platinum at $912 an ounce.
- Palladium at $1,028 an ounce.
Last week in London bullion prices, palladium was unchanged while the other metal prices logged gains of 1.1% for gold, 1.2% for silver, and 3.4% for platinum.
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 | November | December | YTD | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 0 | 0 | 0 | 20,000 |
| $25 American Eagle 1 Oz Palladium Coin* | 0 | 0 | 0 | 0 | 15,000 |
| $50 American Eagle 1 Oz Gold Coin | 0 | 8,000 | 9,500 | 36,000 | 226,500 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 2,000 | 3,000 | 37,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 2,000 | 4,000 | 64,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 10,000 | 25,000 | 395,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 2,500 | 2,000 | 14,000 | 99,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 0 | 385,000 | 742,000 | 18,065,500 |
| 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 |
| 2017 George Rogers Clark 5 Oz Silver Coin | 0 | 0 | 32,400 | 0 | 32,400 |
