Gold Gains Tuesday, Jan. 22, As Other Precious Metals Decline

Single gold bar
Gold futures climbed a modest 80 cents Tuesday, Jan. 22

Gold futures rose slightly in their start to the new trading week Tuesday with U.S. markets closed on Monday for the Martin Luther King Jr. Day holiday. Other precious metals moved lower.

Gold for February delivery inched up 80 cents, or less than 0.1%, to finish at $1,283.40 an ounce on the Comex division of the New York Mercantile Exchange.

"Both metals [gold and silver] dropped to three-week lows overnight as the bulls are fading, technically. However, there is some keener risk aversion in the marketplace today, as seen in a sell-off in U.S. and other world stock markets. That limited selling interest in the safe-haven gold and silver markets," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

Gold futures ranged from a low of $1,276 to a high of $1,285. They shed 0.5% last week.

Meanwhile, silver for March delivery declined 7.4 cents, or 0.5%, to settle at $15.325 an ounce. Silver futures traded between $15.19 and $15.39. They fell last week by 1.6%.

In other precious metals futures prices on Tuesday:

  • April platinum lost $10.90, or 1.4%, to $791.20 an ounce, ranging from $788.50 to $804.

  • Palladium for March delivery sank $28.60, or 2.1%, to $1,306.50 an ounce, trading between $1,288 and $1,361. On Thursday, palladium logged a record settlement at $1,348.20 an ounce.

Last week, platinum fell 1.9% and palladium soared 4.4%.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:

  • Gold rose $2.55, or 0.2%, to $1,282.10 an ounce.
  • Silver was unchanged at $15.26 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 climbed by a combined 3,000 ounces in American Eagle and Buffalo gold coins and by 375,000 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 2,800 0 30,000 25,600
$50 American Eagle 1 Oz Gold Coin 1,500 8,500 3,000 191,000 42,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 32,000 14,000
$10 American Eagle 1/4 Oz Gold Coin 0 4,000 0 62,000 20,000
$5 American Eagle 1/10 Oz Gold Coin 0 15,000 0 230,000 75,000
$50 American Buffalo 1 Oz Gold Coin 1,500 2,500 1,500 121,500 22,500
$1 American Eagle 1 Oz Silver Coin 375,000 710,000 490,000 15,700,000 3,931,000


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