Most precious metals on Tuesday closed lower for a second day in a row. Again, palladium was the exception. Gold and silver extended their declines to a third straight session after they scored multi-month highs last Thursday.
Gold for April delivery inched down 10 cents to settle at $1,319.20 an ounce on the Comex division of the New York Mercantile Exchange.
"Residual strength in the dollar gives off the impression of a near term dollar uptrend and that could keep the bias in both gold and silver pointing downward," analysts at Zaner Precious Metals wrote in a note Tuesday according to MarketWatch. "Clearly, the gold and silver markets damaged their charts Monday by extending a recent pattern of lower lows and lower highs."
Gold futures ranged from a low of $1,314.80 to a high of $1,321. They fell 0.2% on Monday. Last Thursday, they settled at their best price since April 24.
Silver for March delivery shed 5 cents, or 0.3%, to close at $15.836 an ounce. Silver futures traded between $15.81 and $15.93. They dipped 0.3% on Monday. Last Thursday, they marked their best close since July 10.
In other precious metals futures dealings Tuesday:
April platinum settled down $2.90, or 0.4%, to $819.90 an ounce, ranging from $819 to $827.40.
- Palladium for March gained $10.80, or 0.8%, to $1,341.20 an ounce, trading between $1,327.70 and $1,347.50.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM
- Gold rose $2.05, or 0.2%, to $1,314.20 an ounce.
- Silver added 12 cents, or 0.8%, to $15.865 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 5,500 ounces in American Eagle and Buffalo gold coins, by 255,000 ounces in American Silver Eagles, and by 500 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 / This Week||Last Week||January||February||2019 Sales|
|$100 American Eagle 1 Oz Platinum Coin||500||2,000||27,100||1,000||28,100|
|$50 American Eagle 1 Oz Gold Coin||3,000||2,500||44,500||4,000||48,500|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||15,000||0||15,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||20,000||0||20,000|
|$5 American Eagle 1/10 Oz Gold Coin||5,000||40,000||85,000||5,000||90,000|
|$50 American Buffalo 1 Oz Gold Coin||2,000||1,000||23,500||2,000||25,500|
|$1 American Eagle 1 Oz Silver Coin||255,000||116,500||4,017,500||285,000||4,302,500|