Precious metals futures divided Tuesday with platinum and palladium posting gains and gold and silver logging losses.
Gold for February delivery declined $7.60, or 0.5%, to settle at $1,569.80 an ounce on the Comex division of the New York Mercantile Exchange.
"We like that there has been no sign of the ‘throwing-the-baby-out-with-the-bathwater’ selling in gold that happened during some other equity market corrections. People on those occasions were taking profits after a rally in gold to pay for margin calls in other weak positions," MarketWatch quoted Jasper Lawler, head of research at London Capital Group, in a note. "This time, so far at least, they are holding on to gold."
Gold futures ranged from a low of $1,566.10 to a high of $1,582.20. They rose 0.4% on Monday, marking their highest close since April 9, 2013.
Silver for March delivery tumbled 59.8 cents, or 3.3%, to settle at $17.458 an ounce. Silver futures traded between $17.42 and $18.12. They lost 0.3% on Monday.
In other precious metals prices on Tuesday:
April platinum added $3.30, or 0.3%, to $995 an ounce, ranging from $983.20 to $996.90.
- Palladium for March delivery rose $11.50, or 0.5%, to $2,185.10 an ounce, trading between $2,151.20 and $2,240. Last Wednesday, palladium scored a record settlement of $2,335.60 an ounce.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:
- Gold declined $6.10, or 0.4%, to $1,574 an ounce.
- Silver fell 32 cents, or 1.8%, to $17.975 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales remained unchanged according to available figures from the Mint’s website. 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||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|