Gold Ends Above 4-Month High

One gold bullion bar and graph
Gold futures gained for a fourth consecutive session

Gold, silver and platinum futures advanced in their start to the new trading week Tuesday with U.S. markets closed on Monday for the Martin Luther King Jr. Day holiday. Gold ended at a more than four-month high and logged their fourth straight session gain.

Gold for February delivery added $2.20, or 0.2%, to settle at $1,337.10 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Sept. 8 when prices closed at $1,351.20 an ounce.

"The near-term trend remains higher for gold, and that is in line with inflation taking hold," MarketWatch quoted analysts at the Sevens Report. "That, in turn, is weighing on real interest rates, which is bullish for gold."

"The level to watch in gold is $1,360, as a break above would be a bullish technical breakout," the Sevens Report analysts said.

Gold futures traded between $1,332.10 and $1,345. They climbed 1% last week, posting their fifth straight weekly increase.

Silver for March delivery rose 4.8 cents, or 0.3%, to finish at $17.189 an ounce. Silver futures ranged from $16.80 to $17.45. They shed 0.8% last week.

In other precious metals futures on Tuesday:

  • April platinum gained $8.70, or 0.9%, to $1,004.90 an ounce, trading between $990 and $1,006.20.

  • Palladium for March delivery dropped $17.20, or 1.6%, to $1,088.15 an ounce, ranging from $1,084.05 to $1,133. On Friday, palladium ended at an all-time high.

Last week, the two metals each advanced 2.2%.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:

  • Gold declined $5.40, or 0.4%, to $1,333.85 an ounce.
  • Silver declined 23 cents, or 1.3%, to $17.095 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight

US Mint Bullion Sales in 2018

United States Mint bullion sales climbed by a combined 6,000 ounces in gold coins and 250,000 ounces in silver coins.

Below is a sales breakdown of U.S. bullion products with columns listing the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
Tuesday / This Week Last Week December 2017 Sales 2018 Sales
$50 American Eagle 1 Oz Gold Coin 2,500 27,000 38,000 228,500 29,500
$25 American Eagle 1/2 Oz Gold Coin 2,000 12,000 3,000 37,000 14,000
$10 American Eagle 1/4 Oz Gold Coin 0 24,000 4,000 64,000 24,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 60,000 25,000 395,000 65,000
$50 American Buffalo 1 Oz Gold Coin 2,000 18,500 14,000 99,500 20,500
$1 American Eagle 1 Oz Silver Coin 250,000 2,520,000 742,000 18,065,500 2,770,000
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