Precious metals futures were mostly higher Tuesday. Gold advanced for a third straight session, ending at a one-week high.
Gold for December delivery settled up $5.40, or 0.5%, to $1,200 an ounce on the Comex division of the New York Mercantile Exchange. The close is the highest since last week Tuesday, Aug. 14.
"This week the gold and silver market bears are showing signs of exhaustion, to suggest near-term market bottoms are in place," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
"The feature in the marketplace today was a lower U.S. dollar index in the wake of remarks from Trump to supporters criticizing the Federal Reserve for raising interest rates," Wyckoff added.
Gold futures ranged from a low of $1,194.30 to a high of $1,203.10. They gained 0.9% on Monday.
Elsewhere, silver for September added 9.6 cents, or 0.7%, to close at $14.766 an ounce. Silver futures traded between $14.70 and $14.83. They edged up 0.3% on Monday.
In other precious metals prices on Tuesday:
October platinum dipped 90 cents, or 0.1%, to $793 an ounce, ranging from $786.90 to $803.30.
Palladium for September delivery climbed $11.30, or 1.3%, to $910 an ounce, trading between $898.20 and $911.20.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold rose $6.60, or 0.6%, to 1,190.95 an ounce.
- Silver added 3 cents, or 0.2%, to $14.785 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 increased by 200,000 ounces in American Silver Eagles and by a combined 2,000 ounces in American Gold Eagles.. 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||July||August||2018 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||30,000|
|$50 American Eagle 1 Oz Gold Coin||1,500||4,000||31,500||12,000||131,000|
|$25 American Eagle 1/2 Oz Gold Coin||1,000||1,000||1,000||2,000||20,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||2,000||2,000||52,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||25,000||5,000||155,000|
|$50 American Buffalo 1 Oz Gold Coin||0||8,500||24,500||18,000||96,000|
|$1 American Eagle 1 Oz Silver Coin||200,000||690,000||885,000||1,155,000||8,862,500|
|Pictured Rocks 5 Oz Silver Coin||0||0||0||0||30,000|
|Apostle Islands 5 Oz Silver Coin||0||0||0||0||30,000|
|Voyageurs 5 Oz Silver Coin||0||0||0||0||30,000|