Gold and silver futures rebounded somewhat Tuesday from losses in the previous session that pulled their prices down to a more than one-week low.
Gold for December delivery rose $2.90, or 0.2%, to settle at $1,191.50 an ounce on the Comex division of the New York Mercantile Exchange.
"Some mild short covering in the futures markets and bottom-fishing in the cash markets were featured in both metals (silver and gold) today, following Monday’s solid losses," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.
Gold futures ranged from a low of $1,186.60 to a high of $1,195.80. They dropped 1.4% on Monday, for their lowest settlement since Sept. 27.
Silver for December moved up 7.1 cents, or 0.5%, to finish at $14.40 an ounce. Silver futures traded between $14.28 and $14.47. They declined 2.2% on Monday — also ending at their the lowest close since Sept. 27.
In other precious metals futures on Tuesday:
January platinum tacked on $10.60, or 1.3%, to $828.90 an ounce, ranging from $814 to $829.50.
- Palladium for December delivery fell $6.80, or 0.6%, to $1,062.10 an ounce, trading between $1,058.60 and $1,077.80.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold fell $1.40, or 0.1%, to 1,185.55 an ounce.
- Silver declined 14 cents, or 1%, to $14.325 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. 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 / Week||Last Week||September||October||2018 Sales|
|$100 American Eagle 1 Oz Platinum Coin*||0||0||0||0||30,000|
|$50 American Eagle 1 Oz Gold Coin||0||4,500||14,500||4,500||155,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||2,000||1,000||25,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||4,000||0||58,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||10,000||40,000||10,000||210,000|
|$50 American Buffalo 1 Oz Gold Coin||0||1,500||11,000||1,500||109,500|
|$1 American Eagle 1 Oz Silver Coin||0||670,000||2,897,500||670,000||12,805,000|
|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|
|Cumberland Island 5 Oz Silver Coin||0||0||52,500||0||52,500|