Precious metals futures ended lower on Tuesday. Gold’s loss brought it down from a more than two-week high.
Gold for December delivery shed $1.60, or 0.1%, to settle at $1,214.40 an ounce on the Comex division of the New York Mercantile Exchange.
"Some normal profit-taking from the shorter-term futures traders was featured today, following decent gains the past few sessions that do suggest the yellow metal has put in a near-term market bottom," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
"A weaker U.S. dollar index on this day was a bullish element for the precious metals markets that did limit the downside pressure," Wyckoff added.
Gold futures ranged from a low of $1,210.20 to a high of $1,220.70. They rose 0.2% on Monday, marking their best settlement since Aug. 10.
Elsewhere, silver for September fell 8.5 cents, or 0.6%, to end at $14.774 an ounce. Silver futures traded between $14.70 and $14.95. They climbed 0.4% on Monday, posting their best close since Aug. 14.
In rounding out precious metals prices on Tuesday:
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October platinum lost $8.90, or 1.1%, to $795.30 an ounce, ranging from $788.10 to $810.
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Palladium for September delivery declined $2.50, or 0.3%, to $939.40 an ounce, trading between $933.20 and $949.80.
London Precious Metals Prices
London market closed Monday for a public holiday. In comparing earlier fixed London gold and silver prices from Friday PM to Tuesday PM:
- Gold rose $14.55, or 1.2%, to 1,212.25 an ounce.
- Silver surged 28 cents, or 1.9%, to $14.90 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 a combined 3,000 ounces in American Eagle and Buffalo gold coins and by 125,000 ounces in American Silver 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 | 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 | 1,500 | 3,000 | 2,500 | 31,500 | 16,000 | 135,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 1,000 | 1,000 | 1,000 | 3,000 | 21,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 0 | 2,000 | 2,000 | 52,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 25,000 | 5,000 | 155,000 |
| $50 American Buffalo 1 Oz Gold Coin | 1,500 | 0 | 2,000 | 24,500 | 20,000 | 98,000 |
| $1 American Eagle 1 Oz Silver Coin | 125,000 | 225,000 | 325,000 | 885,000 | 1,505,000 | 9,212,500 |
| 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 |
