Precious Metals Decline; Palladium Logs First Loss in 11 Sessions

Gold Bullion and Coins
Gold futures slipped 0.2% Tuesday, Jan. 15

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


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