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|