Gold, silver and platinum futures declined in their start to the new trading week Tuesday with U.S. markets closed on Monday for the Martin Luther King Jr. Day holiday. Palladium, meanwhile, registered a fresh record.
Gold for February delivery shed $2.40, or 0.2%, to settle at $1,557.90 an ounce on the Comex division of the New York Mercantile Exchange.
"The gold market bulls are taking a breather amid some normal consolidation and backing and filling on the charts," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note.
"There is keener risk aversion in the marketplace to start the U.S. trading week Tuesday," he added.
Gold futures ranged from a low of $1,549.20 to a high of $1,568.80. They edged ahead 20 cents last week.
Silver for March delivery dropped 26.50 cents, or 1.5%, to close at $17.808 an ounce. Silver futures traded between $17.67 and $18.16. They lost 0.2% last week.
In other precious metals prices Tuesday:
-
April platinum fell $17.30, or 1.7%, to $1,007.50 an ounce, ranging from $993.10 to $1,034.90.
- Palladium for March delivery rose $7.80, or 0.4%, to a record settlement of $2,232.70 an ounce. Palladium traded between $2,201.10 and $2,312.50.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold declined $8.85, or 0.6%, to $1,551.30 an ounce.
- Silver lost 7 cents, or 0.4%, to $17.985 an ounce.
US Mint Bullion Sales in 2020
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 | November | December | 2020 Sales | |
| $50 American Eagle 1 Oz Gold Coin | 0 | 8,000 | 2,000 | 19,500 |
| $25 American Eagle 1/2 Oz Gold Coin* | 0 | 5,000 | 0 | 13,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 2,000 | 0 | 14,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 0 | 45,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 5,000 | 1,500 | 10,500 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 463,000 | 0 | 2,298,000 |
