In futures trading Tuesday, gold and silver declined while platinum and palladium gained. Gold’s loss was its first in five sessions.
Gold for April delivery lost $9.40, or 0.6%, to settle at $1,570.10 an ounce on the Comex division of the New York Mercantile Exchange.
"Some upbeat remarks on the U.S. economy by Federal Reserve Chairman Jerome Powell helped to sink the safe-haven metals today," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "And on this day the global marketplace decided to brush off the coronavirus outbreak that continues to spread, which in turn rallied global stock markets, a competing asset class for the precious metals."
Gold futures ranged from a low of $1,565.20 to a high of $1,577.50. They moved ahead 0.4% on Monday.
Silver for March fell 18.8 cents, or 1.1%, to settle at $17.597 an ounce. Silver futures traded between $17.55 and $17.80. They gained 0.5% on Monday.
In other precious metals prices Tuesday:
April platinum added $6.60, or 0.7%, to $973.50 an ounce, ranging from $962.60 to $977.
- Palladium for March delivery rose $15.90, or 0.7%, to $2,265.70 an ounce, trading between $2,215 and $2,272.10. On Wednesday, palladium logged a record close at $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 $2.70, or 0.2%, to $1,570.50 an ounce.
- Silver shed 8 cents, or 0.5%, to $17.705 an ounce.
US Mint Bullion Sales in 2020
United States Mint bullion sales were 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.
|US Mint Bullion Sales (# of coins)|
|This Week / February||November||December||2020 Sales|
|$50 American Eagle 1 Oz Gold Coin||0||8,000||2,000||38,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||5,000||0||23,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||2,000||0||18,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||0||60,000|
|$50 American Buffalo 1 Oz Gold Coin||0||5,000||1,500||21,000|
|$1 American Eagle 1 Oz Silver Coin||0||463,000||0||3,846,000|
|$1 American Eagle 1 Oz Platinum Coin||0||463,000||0||14,500|