Precious metals futures mostly declined Tuesday. Palladium was the exception, posting its third straight record settlement.
Gold for February delivery shed $4, or 0.3%, to settle at $1,285.90 an ounce on the Comex division of the New York Mercantile Exchange.
"The safe-haven metals are being pressured by upbeat trader and investor attitudes early this week," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Still, the bulls can argue the price weakness in both metals is just a normal corrective pullback following recent gains that pushed gold to a six-month high and silver to a five-month high late last week."
Gold futures ranged from a low of $1,280.20 to a high of $1,291.40. They rose 0.3% on Monday. Last Thursday, they closed at $1,294.80 an ounce for their best settlement since June. 14.
Ending lower for a third session in a row after rising for seven straight, silver for March delivery declined 4.3 cents, or 0.3%, to end at $15.713 an ounce. Silver futures traded between $15.56 and $15.75. They slipped 0.2% on Monday. Last Thursday, the metal registered its best settlement — at $15.797 an ounce — since July 16.
In rounding out precious metals dealings:
April platinum fell $2.50, or 0.3%, to $821.80 an ounce, ranging from $818.90 to $830.50.
- Palladium for March delivery surged $21.20, or 1.7%, to $1,261.40 an ounce — another new record close. Palladium prices traded between $1,236.30 and $1,270.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold fell $5.75, or 0.4%, to $1,286.45 an ounce.
- Silver declined 11 cents, or 0.7%, to $15.64 an ounce.
In LBMA results last week, gold rose less than 0.1% and silver advanced 2.7%.
US Mint Bullion Sales in 2019
On Monday, Jan. 7, the United States Mint started accepting orders for its 2019-dated American Eagle and Buffalo bullion coins. Their sales today boosted the already strong gains from Monday.
Advances on the day included a combined 2,500 ounces in American Eagle and Buffalo gold coins; 150,000 ounces in American Silver Eagles; and 1,000 ounces in American Platinum 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||December||2018 Sales||This Week / 2019 Sales|
|$100 American Eagle 1 Oz Platinum Coin||1,000||0||0||30,000||19,200|
|$50 American Eagle 1 Oz Gold Coin||500||0||3,000||191,000||30,000|
|$25 American Eagle 1/2 Oz Gold Coin||1,000||0||0||32,000||12,000|
|$10 American Eagle 1/4 Oz Gold Coin||2,000||0||0||62,000||16,000|
|$5 American Eagle 1/10 Oz Gold Coin||5,000||0||0||230,000||45,000|
|$50 American Buffalo 1 Oz Gold Coin||500||0||1,500||121,500||17,000|
|$1 American Eagle 1 Oz Silver Coin||150,000||100,000||490,000||15,700,000||2,671,000|