In futures action Tuesday, gold and silver declined for a second straight session and palladium dropped from its prior-day settlement record. Platinum advanced, logging its fifth gain in six sessions.
Gold for December delivery shed $5.10, or 0.3%, to settle at $1,490.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the weakest since last Tuesday, Oct. 22.
"Gold has stumbled into the trading week under pressure thanks to the improving market mood and risk-on sentiment," MarketWatch quoted Lukman Otunuga, senior research analyst at FXTM, in a note. "Given how prices are trading below the $1,500 level, further downside could be on the cards in the short term."
Gold futures ranged from a low of $1,485.60 to a high of $1,497.10. They ended 0.6% lower on Monday.
Silver for December delivery declined 4.5 cents, or 0.3%, to settle at $17.831 an ounce. Silver futures traded between $17.60 and $17.88. They dipped 0.3% on Monday.
In rounding out precious metals dealings Tuesday:
January platinum added $6.10, or 0.7%, to $925.10 an ounce, ranging from $912.70 to $926.70.
- Palladium for December delivery dropped $24.20, or 1.4%, to $1,755.10 an ounce, trading between $1,749.40 and $1,779. On Monday, they marked a record settlement at $1,779.30 an ounce.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold declined $5.65, or 0.4%, to $1,486.75 an ounce.
- Silver fell 39.5 cents, or 2.2%, to $17.66 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 were unchanged. 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||September||October||2019 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||0||3,500||8,000||98,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||1,000||1,000||25,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||2,000||4,000||34,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||10,000||20,000||190,000|
|$50 American Buffalo 1 Oz Gold Coin||0||0||2,500||3,000||55,000|
|$1 American Eagle 1 Oz Silver Coin||0||0||1,021,000||943,500||14,233,500|
|San Antonio Missions 5 Oz Silver Coin||0||0||37,700||17,500||55,200|
|War in the Pacific 5 Oz Silver Coin||0||0||2,500||500||72,500|
|American Memorial Park 5 Oz Silver Coin*||0||0||0||0||80,000|
|Lowell 5 Oz Silver Coin*||N/A||80,000|
|$100 American Eagle 1 Oz Platinum Coin*||N/A||40,000|