Precious metals futures fell Tuesday, posting losses ranging from 0.4% for silver to 1.2% for platinum. Gold finished at its lowest price in sixteen week.
Gold for June delivery dropped $14.10, or 1.1%, to end at $1,277.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest for a most active contract since the close at $1,273 an ounce on Dec. 26.
"Gold came for sale on heavy volumes at the open this morning, breaking down through key support in the mid-$1,280s thanks to broad, risk-on money flows and more specifically, rebounding interest rates," MarketWatch quoted Tyler Richey, co-editor of the Sevens Report.
Gold futures ranged from a low of $1,275.50 to a high of $1,291.70. They declined 0.3% on Monday.
Silver for May delivery shed 6 cents to settle at $14.915 an ounce. Silver futures traded between $14.83 and $14.94. They edged up less than 0.1% on Monday.
In other major precious metals futures Tuesday:
July platinum fell $10.30 to $884.20 an ounce, ranging from $880.60 to $896.60.
- Palladium for June delivery declined $6.30, or 0.5%, to $1,328.40 an ounce, trading between $1,325.70 and $1,347.80.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM
- Gold fell $9.30, or 0.7%, to $1,276.35 an ounce.
- Silver rose 1 cent, or less than 0.1%, to $14.945 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 increases of 500 ounces in American Gold Buffalos and 500 onces 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||February||March||April||2019 Sales|
|$100 American Eagle 1 Oz Platinum Coin||500||500||2,400||4,000||2,100||35,600|
|$50 American Eagle 1 Oz Gold Coin||0||1,000||11,000||8,500||3,000||67,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||1,000||1,000||1,000||1,000||18,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||0||4,000||2,000||26,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||5,000||10,000||15,000||10,000||125,000|
|$50 American Buffalo 1 Oz Gold Coin||500||1,000||6,000||5,500||4,500||39,500|
|$1 American Eagle 1 Oz Silver Coin||0||0||2,157,500||850,000||550,000||7,575,000|
|Lowell 5 Oz Silver Coin||0||0||N/A||80,000||0||80,000|