Precious metals ended slightly lower Tuesday. Palladium’s loss was its first in eleven sessions and the first in eight sessions to miss ending at a record settlement. Declines in gold and silver were their first in three sessions.
Gold for February delivery fell $2.90, or 0.2%, to settle at $1,288.40 an ounce on the Comex division of the New York Mercantile Exchange.
"Technically, February gold futures bulls still have the overall near-term technical advantage. A two-month-old price uptrend is still in place on the daily bar chart. The recent sideways pause is not bearish," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Gold bulls’ next upside near-term price breakout objective is to produce a close above solid technical resistance at $1,300.00. Bears’ next near-term downside price breakout objective is pushing prices below solid technical support at $1,260.00."
Gold futures ranged from a low of $1,286.50 to a high of $1,294.80. They rose 0.1% on Monday.
Meanwhile, silver for March delivery fell 6.6 cents, or 0.4%, to close at $15.62 an ounce. Silver futures traded between $15.57 and $15.74. They climbed 0.2% on Monday.
In rounding out precious metals dealings:
-
April platinum lost $2.40, or 0.3%, to $800.10 an ounce, ranging from $798.10 to $809.70.
- Palladium for March delivery shed $4.90, or 0.4%, to $1,277.10 an ounce, trading between $1,274.10 and $1,296.80. On Monday, palladium ended at $1,282 an ounce for its seventh straight record settlement.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM
- Gold added $1.65, or 0.1%, to $1,294.40 an ounce.
- Silver declined 1.5 cents, or 0.1%, to $15.60 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight
US Mint 2019 Bullion Sales
United States Mint bullion sales registered their first gains of the week. Advances included a combined 2,000 ounces in American Eagle and Buffalo bullion coins and by 100,000 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 / This Week | Last Week | December | 2018 Sales | 2019 Sales | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 22,800 | 0 | 30,000 | 22,800 |
| $50 American Eagle 1 Oz Gold Coin | 1,000 | 32,000 | 3,000 | 191,000 | 33,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 13,000 | 0 | 32,000 | 13,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 16,000 | 0 | 62,000 | 16,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 5,000 | 60,000 | 0 | 230,000 | 65,000 |
| $50 American Buffalo 1 Oz Gold Coin | 500 | 18,500 | 1,500 | 121,500 | 19,000 |
| $1 American Eagle 1 Oz Silver Coin | 100,000 | 2,846,000 | 490,000 | 15,700,000 | 2,946,000 |
