Precious metals futures on Tuesday moved opposite of their direction on Monday as platinum gained and gold, silver and palladium fell. Gold finished at a nearly three-week low.
Gold for June delivery shed $4.10, or 0.3%, to settle at $1,273.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since May 2.
"The U.S. dollar has risen in value across other currencies, as capital has surged into [the dollar] rather than gold," Jeff Wright, executive vice president of GoldMining Inc. told MarketWatch.
"Not a lot of meaningful economic news this week; leading into Memorial Day so market activity is already reduced," Wright said. "Gold could drift even lower through the week."
Gold futures ranged from a low of $1,269 and $1,277.70. They rose 0.1% on Monday.
Silver for July delivery gave back 3.5 cents, or 0.2%, to close at $14.41 an ounce. Silver futures traded between $14.35 and $14.46. They gained 0.4% on Monday.
In other precious metals futures prices Tuesday:
July platinum rose $1.20, or 0.2%, to $815.40 an ounce, ranging from $807.20 to $820.40.
- Palladium for June delivery declined $18.50, or 1.4%, to $1,312.50 an ounce, trading between $1,311.20 and $1,332.90.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold fell $5.70, or 0.5%, to $1,271.15 an ounce.
- Silver rose 1.5 cent, or 0.1%, to $14.43 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 increased by a combined 4,000 ounces in gold coins and by a combined 916,000 ounces in silver coins.
Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Tuesday / This Week||Last Week||March||April||May||2019 Sales|
|$100 American Eagle 1 Oz Platinum Coin*||N/A||4,000||6,500||N/A||40,000|
|$50 American Eagle 1 Oz Gold Coin||1,500||1,000||8,500||6,500||2,500||73,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||1,000||1,000||0||19,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||4,000||2,000||0||26,000|
|$5 American Eagle 1/10 Oz Gold Coin||5,000||0||15,000||25,000||5,000||140,000|
|$50 American Buffalo 1 Oz Gold Coin||2,000||1,000||5,500||6,500||3,000||44,500|
|$1 American Eagle 1 Oz Silver Coin||546,000||0||850,000||1,196,000||706,000||8,827,000|
|Lowell 5 Oz Silver Coin*||N/A||80,000||N/A||80,000|
|American Memorial Park 5 Oz Silver Coin||74,000||N/A||74,000||74,000|