Precious metals futures rebounded Tuesday, recovering a bit from losses on Monday that brought gold, silver and platinum to settlement lows that ranged from more than one and a half years to nearly ten years.
Posting its first gain in four sessions, gold for December delivery added $1.80, or 0.2%, to finish at $1,200.70 an ounce on the Comex division of the New York Mercantile Exchange.
"An encouraging sign for the precious metals bulls is that their markets were able to sustain gains today despite a solid rally in the U.S. dollar index to a 14-month high.," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
Gold futures ranged from a low of $1,198.90 to a high of $1,205.80. They dropped 1.7% on Monday, ending at their worst level since Jan. 30, 2017.
Meanwhile, silver for September rose 7.1 cents, or 0.5%, to settle at $15.053 an ounce. Silver futures traded between $14.97 and $15.11. They tumbled 2.1% on Monday, marking their lowest close since April 4, 2016.
In rounding out precious metals futures prices on Tuesday:
After ending at the lowest price since December 2008, October platinum gained $2.20, or 0.3%, to $801.70 an ounce, ranging from $795.80 to $809.
- Palladium for September delivery tacked on $9.10, or 1%, to $890 an ounce, trading between $878 and $890.70.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold declined $3.35, or 0.3%, to 1,197 an ounce.
- Silver fell 15 cents, or 1%, to $15.035 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 were unchanged Tuesday. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.
|US Mint Bullion Sales (# of coins)|
|Tuesday||Last Week||This Week||July||August||2018 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||0||30,000|
|$50 American Eagle 1 Oz Gold Coin||0||6,000||2,000||31,500||8,500||127,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||0||1,000||0||18,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||2,000||0||50,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||25,000||0||150,000|
|$50 American Buffalo 1 Oz Gold Coin||0||9,000||1,500||24,500||11,000||89,000|
|$1 American Eagle 1 Oz Silver Coin||0||235,000||225,000||885,000||490,000||8,197,500|
|Pictured Rocks 5 Oz Silver Coin||0||0||0||0||0||30,000|
|Apostle Islands 5 Oz Silver Coin||0||0||0||0||0||30,000|
|Voyageurs 5 Oz Silver Coin||0||0||0||0||0||30,000|